In an announcement, Deutsche Telekom AG said it has valued its joint venture with France Telecom, EE, at GBP10 billion or US$15.2 billion. In the same breath, it said that a partial listing of EE shares was still the preferred option for the company.
According to Deutsche Telekom's chief finance officer Timotheus Hoettges during the company's recently held shareholder's meeting, "Such a process needs good timing."
He added, "We need to wait for the right moment to place such a huge amount on the market. We don't have to, but when the opportunity is there we can do it."
Currently, EE is the largest mobile operator in Britain. Half of the firm is owned by France Telecom SA and has also set a similar timeframe, according to its CFO Gervais Pellissier last December. The joint venture was formed when Orange and T-Mobile.
Hoettges firmly adds, "Our destination is an IPO - that's the way of bringing additional value out of England and to Germany and France. We have at the moment very high interest from the market."
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