O2 puts £10bn London IPO on hold over Brexit?

Telecoms giant O2 is postponing its £10bn stock market flotation until after Brexit amid market uncertainty, according to latest reports.

Britain’s second-largest mobile operator, which is owned by Spain’s Telefonica, had been expected to list on the London Stock Exchange in this year following 4G and 5G spectrum auctions in April. However, media reports now suggest that the plans have been put on hold.

The recent IPO failures of Funding Circle and Aston Martin, which sank on their stock market debuts earlier this month, also influenced the telecom operator’s team to put the plans on hold.