The IPO of Telekom Austria, one of the last three national telecoms carriers in Europe to be privatised, is finally set to get away next month. But it is by no means guaranteed an easy ride.

The Telekom Austria IPO has been one of the will-it-won't-it deals of the European telecoms sector all year, alongside its Belgian counterpart Belgacom and the Norwegian telecoms carrier Telenor. Telekom Austria has finally set a launch date for November 21. It will list as the biggest stock on the Vienna Stock Exchange, and will also list in New York. OIAG, the Austrian state-holding company that owns just over 74% of the company, is planning to offer 25% of Telekom Austria in a deal that it is hoping will raise about €2.2bn.