Salt ditches IPO plans

29 Sep 2021

Salt, the Swiss telecoms operator backed by French billionaire Xavier Niel, has shelved plans for an initial public offering (IPO), Bloomberg reports, citing people familiar with the matter. A source told the news agency that Salt has opted not to pursue an IPO during a busy period for European listings in which investors are favouring high-growth stocks. However, Salt could revisit the IPO plans at a later date, the person added.

According to TeleGeography’s GlobalComms Database, Niel’s NJJ Capital holding company agreed to acquire Orange Switzerland from Apax Partners CHF2.8 billion (USD2.9 billion) in December 2014, and the deal closed in February 2015. The telco was rebranded as Salt in April 2015. In July 2021 it was reported that Salt was preparing for a listing on the SIX Swiss Exchange. The offering was expected to value the company at around CHF2.5 billion, with Salt expected to list shares worth a total of around CHF700 million.

Switzerland, NJJ Group (incl. NJJ Telecom Europe), Salt (Switzerland)