24th Aug 2020 09:02
(Alliance News) - Shares in BT Group PLC rose on Monday morning after Sky News reported over the weekend that the telecommunications firm is preparing to defend itself against takeover approaches.
According to Sky News, BT has asked bankers at Goldman Sachs to update its bid defence strategy in recent weeks.
However, the article said the former UK state monopoly has not yet received a formal approach from any potential suitor.
https://news.sky.com/story/bt-group-board-on-alert-for-15bn-takeover-approaches-12054366
BT shares were up 5.1% at 106.98 pence, the best performer in the FTSE 100 on Monday. The company's market capitalisation stands at GBP10.61 billion, with shares having fallen to an 11-year low earlier this month.
By Arvind Bhunjun; [email protected]
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