neuf Cegetel assesses interest for October IPO

4 Sep 2006

French alternative telecoms operator neuf Cegetel is garnering investor interest for a possible initial public offering (IPO) in October and has invited analysts to review its books, according to Dow Jones Newswires citing people close to the situation. neuf officials will meet with analysts before the end of the week to see the company’s latest financial results. A spokesman for the firm added that previous reports of a September listing were untrue and that the company would not be ready until October. The privately owned telco is looking to a listing in large part to give its investors a greater degree of flexibility. SFR, the French mobile phone subsidiary of Vivendi which owns a 35% stake in neuf Cegetel, may increase its stake, while Louis Dreyfus, which also holds 35%, may look to reduce its shareholding. It remains unclear however, whether neuf Cegetel is looking to raise funds for its proposed EUR300 million – EUR350 million buyout of AOL France.

France, neuf Cegetel