Virgin Group, the UK conglomerate owned by Richard Branson, is aiming to float Virgin Mobile in July using JP Morgan and Morgan Stanley in the group's second initial public offering in eight months.

The mobile company is currently worth around £1bn (€1.5bn) according to analysts, although Virgin declined to comment on the valuation and how much money it hopes to raise by listing. In 1999 analysts valued Virgin Mobile at £1.4bn.