Dutch mobile phone firm Odido (formerly known as T-Mobile Netherlands) is moving towards a stock exchange listing in Amsterdam, business news agency Bloomberg has reported.

Sources told Bloomberg that Odido’s private equity owners Apax Partners and Warburg Pincus have selected three banks to arrange an initial public offering, which could raise more than €1 billion.

This is not a guarantee that the IPO will go ahead, Bloomberg said.  But if it does, Odido could be valued at about €7 billion.

Its current owners paid €5.4 billion for the company in 2022. Odido, which also owns the Ben and Simpel brands, adopted its current name in September 2023.

According to the Dutch competition authority ACM, Odido and former state monopoly KPN both have between 30% and 35% of the mobile market in terms of connections.