Tower firm Arqiva plans to float on the UK stock market after failing to reach a deal for a private sale.
The initial £1.5 billion float, expected to take place in November, values the company at £6 billion.
The provider of TV transmission and mobile infrastructure will use the funds to pay down £600 million in debt and restructure its portfolio of financial assets.
The float follows the firm failing to reach a deal with several suitors, including TDL, which offers a similar portfolio of services in France.
Arqiva netted revenues of £944 million and EBITDA of £467 million in the year to June, representing two-year compound annual growth of 7.3 percent and 5.6 percent respectively.
The firm has three main business units, providing transmission for digital terrestrial television services, network infrastructure for telecoms operators and satellite distribution for TV channels.
It said it plans to maintain DTT’s long-term position as the most popular TV platform in the UK and continue to expand the coverage of its radio networks. It also plans to expand its portfolio of cell sites and improve operational efficiency across the organisation.
Simon Beresford-Wylie, CEO of Arqiva said: “Connectivity is key to the growth and on-going competitiveness of the British economy.
“Arqiva provides the critical infrastructure and skilled workforce that ensures the effective operation of the UK’s television, radio, telecoms and smart meters. We are at the heart of communications and enablers of the vibrant digital economy.
“The Group’s strong cash flows and stable, long term capital structure will allow Arqiva to invest in its operations to drive future growth and pay a generous dividend. We are very much looking forward to bringing our unique combination of leading assets and skills to the public markets.”