The Wall Street Journal is reporting that there is going to be a huge glut of telecom offerings, now that the market has firmed up a little bit. Most of the offerings are going to be from recently privatized government monopolies, from Asia in particular, the Journal says. Europeans are also looking to off-load as well.
bq. For example, analysts expect the French government to sell at least €6 billion of stock in France Telecom that represents about 11% of the company’s market capitalization and would increase the free float by about one-quarter. A state-owned German bank is also expected to sell at least €6 billion of Deutsche Telekom stock that represents one-tenth of the company’s market capitalization and would increase the free float by about one-sixth. first half of 2004, when Belgacom, Belgium’s national telephone company, is planning to launch an IPO valued at as much as €4 billion. Among the potential sellers is SBC, which has a 17.5% stake in Belgacom.
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