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BT reviving talks over sale, partnership for international business - report
(Sharecast News) - BT Group is reportedly reviving talks about a sale or partnership for its struggling international operations nearly a year after halting negotiations about a deal. According to Sky News, BT and its advisers plan to hold discussions with companies including AT&T, Orange and Verizon about a potential transaction involving the division previously known as BT Global.
Now carved out of the company's BT Business division, the international business consists of operations in countries such as Argentina, Brazil and Canada. BT provides corporate clients with network-related, cloud and security services in its overseas operations.
A potential divestment of its international businesses would align with chief executive Allison Kirkby's strategy of refocusing the £23.4bn company on its operations in the UK, Skys aid.
This strategy will include a revival of the BT Mobile brand, alongside that of EE, which the company also owns.
BT has already offloaded a string of assets in other markets in recent years, announcing deals in countries including the US, Ireland and Italy.
Industry sources told Sky that bankers at Lazard or Goldman Sachs were expected to work with BT on the new talks with prospective partners.
At 1300 BST, BT shares were down 1.1% at 232.01p.
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