Bloomberg says the Dutch operator, formerly T-Mobile Netherlands, is getting ready to float and now rivals KPN for mobile customers
Odido (formerly known as T-Mobile Netherlands) is edging closer to an initial public offering (IPO) according to Bloomberg. It reports that the private equity investors Apax Partners and Warburg Pincus have selected bankers Barclays Plc, Goldman Sachs Group Inc and Morgan Stanley to lead the share sale, citing unnamed sources.
This is not a guarantee that the initial public offering (IPO) will go ahead on the Amsterdam Stock Exchange, but if it does, it is expected that the operator will be valued at about €7 billion, the report states. It adds that the proceeds of the IPO would be expected to be more than €1 billion.
All of which makes the €5.4 billion the partners paid for the operator in 2022 look like a good deal, suggesting an increase in value of around 40%.
At the time the deal was agreed, in September 2021, T-Mobile Netherlands was third in the Dutch market. With some 8 million mobile customers, Odido now has about 35% market share, roughly the same as the former market leader, KPN.
It adopted the brand name Odido in September 2023, vowing to differentiate itself through superior customer service to KPN and VodafoneZiggo. The newly named organisation said it was the biggest 100% fibre-based internet service operator in the country and on its way to offering internet and TV services via fibre to more than 6 million households.