London/ Milan: Hutchison Whampoa is talking to its banks about whether its Italian 3G mobile business can be listed at the price they have valued it at, sources familiar with the company said on Friday.
While there are speculations that the company is considering postponing the initial public offering, sources reveal that some bankers were confident that, although the price may have to come down, the deal can still get done this year.
The company has not decided yet, but is worried it may not achieve the ?12 billion valuation that it and bankers first put on the business.
Initial Public Offerings (IPO) in Europe have fared poorly over the last month as investors digested a recent glut of new deals and hedge funds, usually big buyers in flotations, pulled back.
Italian newspaper Il Messaggero reported on Friday that the IPO could be postponed until 2006 after a meeting earlier this week between banks arranging the offer.
But Hutchison denied it planned to delay the IPO.
"Our bankers and advisers are continuing to work with us on this IPO process, which is targeted to be completed by the end of the year," said a spokeswoman for the Hong Kong-based conglomerate.
Everything is subject to market conditions, the spokesperson said.
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