Lebara considers sale or IPO, CEO reveals

European mobile network provider Lebara is considering a sale or an IPO, its Chief Executive Stephen Shurrock has revealed.

Since 2020, the mobile phone company has increased customers by over 1.6 million, taking its total to four million.

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As a result, it expects earnings before interest, taxes depreciation and amortisation of £70 million next year, over double the level of 2020.

Shurrock told the Financial Times that the company is working with financial services firm Guggenheim to assess its strategic options.

However, he revealed that deliberations were at an early stage and no decision had been taken.

Shurrock said: “Under our existing ownership we’ve really had a remit which is ‘fix what you’ve got’. The transformation of the business is very substantive.”

He added: “There’s loads of organic growth left in this market for us.”