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O2 Could Look To Float In Early 2017

O2

Rumours are circulating the market about a return by O2 to the London Stock Market which would value the company at £10.3bn. The mobile operator attempted to float at the end of 2016 but abandoned their plans after several other large firms failed to list. However, according to Guy Peddy, Head of Telecoms Research at Macquarie, said “Telefonica will look at a return to an IPO should the market allow in the first quarter of the year. The advantage is O2 is a good brand and a really good company, it just needs a bit more investment capital to roll out its network. Experts said there could be a wave of flotations from technology and life sciences firms this year.”

In the Autumn of 2016 O2 chief executive Mark Evans said “What you have seen over the last six to eight weeks is the markets going into flux.” Unfortunately he made no commitment to a timeline, and said a float was just one of a series of options being considered.

The announcement by Evans back in October came after many companies pulled out or slashed their offer bids ahead of an IPO or sale of shares to investors. Those companies included Biffa, Pure Gym and Misys.