Virgin Mobile prepares for float

14 Apr 2004

Virgin Mobile is currently handpicking advisors in preparation for its long-mooted IPO later this summer, according to Reuters. Investec, JP Morgan and Morgan Stanley are likely to be joined by one other advisory firm in the coming weeks with 28 June being the rumoured date for the cellco’s flotation. Whilst the IPO is expected to raise as much as GBP1.3 billion for Richard Branson’s Virgin Group, bankers are also evaluating debt restructuring plans should the sale fail to go through.

United Kingdom, Virgin Mobile UK