May 7, 2014 / 4:15 PM / 4 years ago

REFILE-German online retailer Zalando picks banks for Q3 IPO -sources

(Refiles to remove extraneous EUR in second paragraph)

FRANKFURT, May 7 (Reuters) - Europe’s biggest online fashion retailer Zalando has picked banks to organise a possible stock market listing in the third quarter, people familiar with the plans said.

The flotation, which would likely value the company at more than $5 billion, will be organised by Credit Suisse, Morgan Stanley and Goldman Sachs, the sources said.

The company on Wednesday reiterated it was constantly considering all options including an initial public offering (IPO) and declined to comment further.

Zalando has said in the past that an IPO was a possibility but not an immediate priority.

The IPO could be western Europe’s biggest technology offering since Germany’s T-Online went public in 2000. (Reporting by Arno Schuetze and Alexander Hübner; Editing by Ludwig Burger and Louise Heavens)

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