(Bloomberg) -- Czech billionaire Petr Kellner’s PPF Group NV has picked banks to help it explore a potential listing of its Cetin unit, which operates the country’s biggest telecommunications network, people familiar with the matter said.

PPF is working with BNP Paribas SA, Morgan Stanley and Societe Generale SA to study options for Cetin including an initial public offering, according to the people. A deal could value the business at about 4 billion euros ($4.8 billion), the people said, asking not to be identified because the information is private.

Kellner is the Czech Republic’s richest person with an estimated net worth of about $15.9 billion, according to the Bloomberg Billionaires Index. Cetin, which was founded in 2015, manages more than 44,000 kilometers (27,340 miles) of fiber-optic cable and runs a cellular network covering 99.7% of the Czech population, according to its website.

PPF said earlier this month it’s considering an IPO of Cetin. It plans to remain invested in the telecommunications industry, which is strategically important for the group, PPF said at the time.

No final decisions have been made, and there’s no certainty the deliberations will lead to a transaction, the people said. Representatives for PPF and the banks declined to comment.

©2021 Bloomberg L.P.