Former Everything Everywhere CEO Tom Alexander is reportedly talking to private equity firms about backing a bid to buy the operator from parents Deutsche Telekom and France Telecom
Former Everything Everywhere (EE) CEO Tom Alexander is talking to private equity firms about supporting an attempt to buy the operator from parents Deutsche Telekom and France Telecom, according to the Financial Times.
Sources told the Financial Times that Alexander had been talking to potential bid backers since February and had approached both France Telecom and Deutsche Telkom about the possibility of buying out the joint venture.
Deutsche Telekom is known to be keen to offload non-core businesses, while France Telecom recently floated the possiblitiy of taking EE through an initial public offering.
Both firms and the EE joint venture are in need of cash to support capital expenditure on new technology including expensive 4G networks.
However, the sources said that there was no guarantee the firms would be keen to sell up.
EE is worth in the region of £6.5 billion.
Such a move would come just a year after Alexander was replaced by current EE CEO Olaf Swantee, and just two years after he oversaw the merger of T-Mobile and Orange that created the operator.
Prior to the merger, Alexander was CEO of Orange, and before that boss of Virgin Media.