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Thursday, April 4, 2013

France Tel, Deutsche Tel line up banks for EE market listing, (NYSE: BAC), (NYSE: FTE), (NYSE: MS)

France Telecom has chosen Morgan Stanley and Bank of America Merrill Lynch to advise it on a potential initial public offering of EE, Britain's largest mobile operator, according to a person familiar with the matter. Deutsche Telekom is expected to hire JP Morgan for the sale, multiple sources from the sector said, since the bank advised it in 2009 when the 50-50 joint venture with France Telecom was formed.Both telecom groups declined comment on the future of EE on Thursday. Last year they said they were conducting a "strategic review on the asset to consider different options, with an IPO as the preferred option".Private equity groups, including U.S.-based KKR and Europe's CVC Capital Partners, have also been sounding out banks to raise money to mount a potential 9 billion to 10 billion pound ($14 billion to $15 billion) takeover of EE.Such a bid would be ambitious for private equity given its large size, but interest from funds or from industry buyers could emerge in the coming months and affect the IPO plan, sector bankers have said.

Bank of America Corporation (Bank of America)is a bank holding company, and a financial holding company. Shares of BAC remained unchanged at $11.81. In the past year, the shares have traded as low as $6.72 and as high as $12.94. On average, 160628000 shares of BAC exchange hands on a given day and today's volume is recorded at 0.

France Telecom SA, (France Telecom), is a France-based European mobile operator, Internet access provider, and telecommunications services provider for multinational businesses under the Orange brand. Shares of FTE remained unchanged at $9.88. In the past year, the shares have traded as low as $9.46 and as high as $14.33. On average, 1678700 shares of FTE exchange hands on a given day and today's volume is recorded at 0.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS remained unchanged at $21.11. In the past year, the shares have traded as low as $12.26 and as high as $24.47. On average, 21435200 shares of MS exchange hands on a given day and today's volume is recorded at 0.



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