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Econet Is Said to Seek U.K. Listing With $8 Billion Value

  • African carrier plans to raise $1 billion in London IPO
  • Econet said to mull purchase of some Millicom Africa assets
Econet founder Strive Masiyiwa.

Econet founder Strive Masiyiwa.

Photographer: Patrick T. Fallon/Bloomberg

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African telecommunications group Econet is considering selling shares on the London Stock Exchange at a valuation of about $8 billion next year after combining new and existing assets, according to people familiar with the matter.

That valuation would be based on an enlarged company, partly forged through the acquisition of additional African phone businesses, said the people, who asked not to be named because the details are private. The plans have not been finalized and the final valuation may change depending on market conditions.