British mobile operator Everything Everywhere has appointed Morgan Stanley to sell spectrum for the roll-out of a 4G mobile broadband network in the UK, the Financial Times reported on Tuesday.
A quarter of the spectrum controlled by Everything Everywhere (London) will be marketed this month by Morgan Stanley to groups with an interest in setting up a 4G network in the UK, the FT said. The spectrum could cost buyers as much as $634.38 million, with leading mobile operators the most obvious buyers, according to the article.
Everything Everywhere, a joint venture between France Telecom and Deutsche Telekom , was granted permission by British telecoms regulator Ofcom last month to reuse its radio spectrum for a 4G network.
Chief executive of Everything Everywhere Olaf Swantee is cited in the article as saying the design of the sale was to encourage competition by finding a company that could create a rival service.
"Whoever we sell to has to be approved by the competition authorities. The test is someone who can provide genuine competition," he is quoted as saying.
Swantee told the FT that Everything Everywhere would be able to launch 4G services before the end of the year.