TDF mulls IPO
10 May 11 -
French broadcast services provider TDF is mulling an IPO, according to press reports.
Reuters news agency has reported that a stock market listing is among the options under discussion by the company’s owners in order to reduce its debts, citing comments by French sovereign fund FSI’s director-general, Jean-Yves Gilet. FSI has a 24% stake in TDF.
According to Reuters, a listing could see TDF valued at up to €8.5 billion. Other options could include a recapitalization of the company. TDF, which owns TV and radio transmission networks in France and across Europe, has debts amounting to about €4.2 billion.
According to a report in French financial daily Les Echos, any IPO is likely to take some time to come to fruition, as the company would have to take steps to improve its debt profile ahead of any flotation.