Telefonica will decide on O2 listing while markets regular

LONDON Telefonica will no longer listing its British mobile enterprise in 2016, the unit's leader government stated, mentioning softer demand for preliminary public offerings and the effect of the weaker pound, and would most effective pass in advance in 2017 if market conditions are right.

The Spanish telecoms institution said final month it deliberate to either list or promote a stake in O2 united kingdom before early 2017 as part of its plan to reduce its 50 billion euros ($55 billion) of debt.

It determined to are seeking a London list or a partial sale of the enterprise after european regulators blocked an agreed 10.three billion kilos ($thirteen.7 billion) takeover by means of CK Hutchison Holdings, the proprietor of British rival 3, earlier this yr.

Mark Evans, leader govt of Telefonica uk, stated the determine organization might handiest list the commercial enterprise if conditions had been proper, and in the mean time markets had been "in flux."

"The banks, the advisers and the analysts we've got seen to this point have been enthused approximately our performance and our approach, but we may not be wedded to, and consequently we aren't committing to, a timeline," he informed reporters in advance of the organization freeing 0.33-quarter numbers on Thursday.

"We just need to be prepared and if the marketplace situations are proper, then we make a judgment at that level. One element it really is for certain, you could rule out any flow in 2016."

sources stated remaining month Telefonica desired to list approximately 30 percentage of the unit before the cease of the 12 months.

but, days later the organization canceled a list of Telxius, its telecom masts commercial enterprise, because of weak investor demand.

Evans, who become Telefonica united kingdom's chief economic officer earlier than turning into CEO on August 1, said there could be no exchange in O2's recognition on cell, announcing he saw little patron demand for the bundles of services supplied by means of opponents like BT.

Telefonica uk introduced 230,000 new mobile connections in its 0.33 area, of which nearly 2 hundred,000 had been settlement internet additions, taking its general cellular base to twenty-five.four million customers.

mobile service revenue grew 1.1 percent 12 months-on-year on a like-for-like basis due to better subscription sales and out-of-package deal revenue, it said.