O2 stock market flotation put on hold again

Mobile operator O2 could be forced to wait until next year to press ahead with a long-awaited £10 billion stock market flotation following delays to a crucial airwaves rights auction.

The firm, owned by Spanish telecoms giant Telefonica, had been awaiting the outcome of a radio spectrum sale originally set for later this year, but the auction has been knocked back into 2018 following a legal challenge from rival operators.