PRESS: BT revives talks over Global unit partnership or sale - Sky
BT Group PLC has revived discussions about a potential sale or partnership for its struggling international operations, Sky News reported.
According to Sky, BT and its advisers are planning to hold talks with companies including AT&T, Orange and Verizon about a possible transaction involving the division previously known as BT Global.
The business, now carved out of the FTSE 100-listed telecoms group’s BT Business division, comprises operations in countries including Argentina, Brazil and Canada. BT provides corporate clients overseas with network-related, cloud and security services.
A potential divestment would align with Chief Executive Allison Kirkby’s strategy of refocusing the £23.4 billion company on its core UK operations. The strategy also includes a revival of the BT Mobile brand alongside EE, which BT owns.
Sky said the renewed talks come nearly a year after BT paused earlier negotiations about a deal.
Industry sources told Sky that bankers at Lazard or Goldman Sachs are expected to advise BT on the latest round of discussions with prospective partners.
BT could face questions about the revived talks when it reports annual results next week, the report added.
On Friday morning, shares in BT were down 1.2% at 231.70 pence, having risen by close to 40% over the past year.
A BT spokesperson declined to comment, Sky said.
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