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Trio Tries to Avoid Trap Door as Stock in British Telecom Mobile Spinoff Soars.
Knight Ridder/Tribune Business News, November, 2001
By Geoff Foster, Daily Mail, London Knight Ridder/Tribune Business News
Nov. 15--Will the axe fall on BA, GKN or United Business Media? One of those underperformers is due for the chop when mmO2, the newly-demerged mobile arm of British Telecom, joins the Footsie at the close of business tomorrow. As tracker funds filled their boots with mmO2, sending the stock soaring to 83 3/4 pence before a close of 81 3/4 pence, up 7 3/4 pence, shares of the threatened three made last-ditch attempts to stave off embarrassing relegation.
Now valued at UKpound 7 billion, mmO2 joins the Footsie ahead of its first unconditional day's trading on Monday. It began conditional dealings on November 9 and closed at 74 1/2 pence, valuing the business at UKpound 6.5...
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