EE IPO plan could be revived in future - Deutsche Telekom executive

FRANKFURT Wed Feb 26, 2014 2:20am EST

FRANKFURT Feb 26 (Reuters) - A stock market flotation of EE, a joint venture between Germany's Deutsche Telekom and France's Orange, could be back on the agenda one day, according to comments a Deutsche Telekom board member made to a newspaper.

"We feel that the value increase is there. But that does not mean that the IPO (initial public offering) is cancelled forever," Claudia Nemat told German daily Boersen-Zeitung in an interview published on Monday.

Deutsche Telekom and Orange last month put on hold plans to float EE, the largest mobile operator in Britain.

"We are absolutely not dissatisfied with the operating development in Britain. It is a difficult market, but look at last week's results, EE is doing fine," Nemat said

EE said last week it had exceeded its cost savings target and boosted profitability during a strong 2013, when its customers ramped up the amount they were willing to spend on data services.

The company, created in 2010 after France Telecom combined its Orange brand with Deutsche Telekom's T-Mobile in 2010, was valued by the German telecom operator at 10 billion pounds ($16.7 billion) last May.