Belgian mobile telecomms operator Mobistar will offer 20-25 per cent of its shares to international investors in its initial public offering, chief executive John Cordier said this week.
Cordier said that a report will be presented to the next board meeting on 25 February, which will answer three crucial questions on the nature of the IPO.
"The report will address when we should proceed with the offering, who we should proceed with and whether we should be looking in terms of capital increase or existing shareholders," he said.
Recent press reports have suggested that Mobistar's IPO could happen as soon as the end of this year, but Cordier would not commit to any definite timeframe.
Asked if existing shareholders will provide the new capital, Cordier said it is "unlikely". Rather it will come from "international banks", he said.
Mobistar is controlled by France Telecom, with Belgium's Telinfo a minority shareholder.
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