UBS Warburg and Goldman Sachs have been mandated by Vodafone Mannesmann to lead the IPO of Arcor, the second largest fixed line telecoms business in Germany, which Vodafone acquired through its acquisition of Mannesmann.

The sale is expected by the end of November, according to sources close to the deal. While figures are at this stage sketchy, it is understood that the sale could raise several billion euros for Vodafone. It will be the fourth big telecoms business which Vodafone has planned to float since its acquired Mannesmann.