Business Services Industry
British Telecom in line for windfall.
Knight Ridder/Tribune Business News, August, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Aug. 18--Phone group BT is in line for a UKpound 62m windfall after a satellite firm it part-owns changed hands for UKpound 1.63 billion.
Bermuda-based Intelsat provides a private line between the White House and the Kremlin and carries video and data traffic. It is being bought by four private equity firms, including Apax Partners and Permira. BT owns 3.8 percent.
Small stakes in satellite operators are the only non-core holdings BT has left after shedding Yellow Pages, Cellnet and overseas stakes to cut debt. Cazenove estimates it could realise UKpound 140m by unwinding similar investments.
BT added 1 1/4 pence to 181 pence.
UKpound preceding a numeral refers to...
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