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Everything Everywhere appoints Morgan Stanley to sell spectrum

Everything Everywhere Ltd. said Tuesday that it has hired investment bank Morgan Stanley to sell some of its spectrum, one of the conditions of its merger to create the U.K.'s biggest mobile operator by revenue.

The company, created in July 2010 through the merger of the U.K. businesses of Deutsche Telekom AG and France Telecom, hired Morgan Stanley last week to "provide independent professional advice" on the sale of a quarter of its 1800 megahertz spectrum, otherwise known as 2G spectrum, a Everything Everywhere spokeswoman said.

"One of the conditions of the merger of Orange and T-Mobile in the U.K. was that Everything Everywhere divest a quarter of its 1800MHz spectrum before the next spectrum auction," she added.

Everything Everywhere hopes the sale will be completed by the fourth quarter of 2012, which will coincide with U.K. communication regulator Ofcom's proposed fourth-generation mobile spectrum auction, which is scheduled to take place in the same quarter, the spokeswoman said. She declined to comment on a newspaper report that the spectrum sale could raise around GBP400 million.

Ofcom's proposed auction of two spectrum bands--800MHz and 2.6 gigahertz --will provide much-needed capacity as demand for mobile data in western Europe is expected to increase by more than six-fold over the next five years, driven by smartphones and mobile broadband data services such as video streaming and social networking, according to Ofcom.

Everything Everywhere has the biggest third-generation network in the U.K., competing against Vodafone Group PLC, Telefonica SA's U.K. arm and Hutchison Whampoa Ltd.'s Three U.K.

Источник: Total Telecom

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