Telenet, Belgium's largest cable television operator, has pitched six banks against each other to win a bookrunner role on its potential initial public offering worth more than €1bn ($1.2bn).

Two sources close to company confirmed that Goldman Sachs, JP Morgan, Lehman Brothers and KBC, a Belgian bank which owns a small stake in Telenet, are currently advising the company on legal and documentation issues - their mandate is as so-called process banks.