Deutsche Telekom mooted a value of £10 billion for EE, its UK joint venture with France Telecom, noting that a partial listing is its preferred option of the business in the future.
According to Reuters, Timotheus Hottges, CFO of the company, told a shareholder meeting that “such a process needs good timing”.
“We need to wait for the right moment to place such a huge amount on the market,” he said.
The future ownership structure of EE has been in the spotlight for some months, with it reported last month that France Telecom had appointed banks to advise on its options for its 50 per cent stake.
According to speculation earlier this year, Deutsche Telekom and France Telecom could jointly sell 25 per cent of EE, meaning they will retain a joint 75 per cent share. Such a transaction could net them each more than £1 billion.
In an interview with Mobile World Live earlier this year, Olaf Swantee, CEO of EE, said that interest in the company in terms of an IPO or private equity acquisition has been “enormous”, although he added that the JV structure “has been very successful to date”.
Hottges is set to take over as CEO of Deutsche Telekom when Rene Obermann, the incumbent, stands down later this year.