14th May 2020 19:15
(Alliance News) - Telecommunications company BT Group PLC is in talks to sell a multibillion pound stake in its Openreach digital network business to infrastructure investors, the Financial Times reported late Thursday.
Three people with direct knowledge of the discussions told FT that potential buyers, including Australian bank Macquarie Group Ltd and a sovereign wealth fund, have held talks with BT in the past three weeks.
Openreach, which maintains the UK's national network, is the most profitable division within BT and the potential stake sale could value the unit at about GBP20 billion, sources told the newspaper.
Class A shares of BT Group closed up 0.7% at 102.15 pence each in London on Thursday, valuing the company at GBP10.09 billion.
BT and Macquarie declined to provide a comment to FT over the potential Openreach stake sale talks.
https://www.ft.com/content/0ab3d20a-72d3-4956-8416-6885eca0b7e9
By Tapan Panchal; [email protected]
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