The owners of Poland’s mobile operator P4, which operates under the Play brand name, are considering an initial public offering (IPO) after they called off an auction to sell the business in 2016.

“After 10 years of developing Play into a leading Polish mobile operator, the shareholders and management of Play are reviewing the best options to set the company up for its next stage of growth,” said in a statement on Friday.

“A possible option could take the form of an initial public offering,” it said.

The Play business is owned by Greek fund Tollerton and its Icelandic fund Novator, which had planned to sell the business…