BT Sells Stake in Eutelsat for 363 Million Pounds
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BT Group Plc, the UK&#39;s largest phone operator, agreed to sell its stake in Eutelsat SA for 363 million pounds ($685 million) in cash, marking the company&#39;s exit from the satellite operating business.
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Telecoms operator BT Group said it had agreed to buy Californian voice and data network service provider Infonet Services Corp for 965 million dollars (520 million pounds).
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Belgian telecommunications operator Belgacom said on Thursday it was selling its stake in the Belgian arm of French mobile operator Orange for 147.8 million euros (193.5 million dollars).
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BAE Systems advised its shareholders to sell the British defence group's 20 percent stake in Airbus to the Franco-German aerospace firm EADS for 2.75 billion euros (3.5 billion dollars).
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In a move to strengthen its position as a global provider of IT and networking services, BT Group PLC has agreed to buy U.S.-based Infonet Services Corp., the companies announced Monday.
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BT Group has sold its stake in the satellite operator Eutelsat as part of a growing focus on its core business. The sale marks BT&#39;s exit from the satellite business and ends a 25-year-old tie with the operator which it helped co-found in the late 1970s.
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BERLIN -- Industrial group Siemens AG said Friday it has signed a $3.35 billion contract to deliver technology services around the world to the British Broadcasting Corp.
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Spanish telecommunications group Telefonica said it had sold its 4.88 percent stake in British media concern Pearson for about 240 million pounds.
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Business: 25 November 2004, Thursday. Bulgarian government has planned to float 35% of its stake in the Bulgarian Telecommunications Company (BTC) at the Sofia Stock Exchange, Bulgarian National Radio reported.
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BERLIN: BT Group Plc, Britain&#39;s largest phone company, plans to buy Infonet Services Corp. for US$965mil to add a data network spanning more than 180 countries.
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Vodafone Group Plc  has  won the battle for a controlling stake in India's No.4 mobile  operator Hutchison Essar with a bid that values it at around  $19 billion including debt, a source and India's Essar group  said on Sunday.
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Bulgaria sold a formerly state-owned 34.6% package of national telecom provider BTC (BTC) to private investors for leva (BGN) 625 million (EUR312.5 million) on Thursday, an official said.
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LONDON BT Group said Monday that it was buying Infonet Services, a US-based company that provides global data-communications services, for $965 million to gain more clients in North America and Asia.
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Intelsat Ltd., the world's second-largest satellite operator, said on Monday it agreed to be bought by a consortium of four private equity firms for &#36;5 billion, including assumption of &#36;2 billion of debt.
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London-based BT Group PLC said Monday it will strengthen its presence in North America and Asia by buying Infonet Services Corp., an international managed voice and data network services provider, for $965 million.
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(InfoWorld) - BT Group has been granted licenses to provide national and long-distance services in India as it seeks to carve out a bigger piece of the country's burgeoning telecoms market. The licenses from India's Department of Telecommunications allows BT's newly formed joint venture, BT Telecom India Pvt. Ltd., to sell services directly to corporate customers in India, BT said on Wednesday. Until now the company has been offering the services through an agreement with a local service provider. BT will offer virtual private network (VPN) services using technologies such as multi-protocol label switching (MPLS) and ATM (asynchronous transfer mode), it said. Multinationals providers includingÂ Verizon CommunicationsÂ have been applying for licenses to operate national and long-distance services in India. Two years ago the government increased the stake that a foreign company can hold in Indian telecoms provider, from 49 percent to 74 percent, which made investment more attractive. It also reduced license fees. India's booming telecoms market has been attracting investments to the country. In February, Vodafone Group announced anÂ agreement to acquire a 67 percent interestÂ in Indian mobile services provider Hutchison Essar. It hopes to cash in on India's mobile market, which is adding more than 6 million subscribers a month. A key opportunity for BT and other multinational providers is to offer services to the Indian operations of multinational companies, as well as to India's growing outsourcing industry. AT&T's majority-owned joint venture, AT&T Global Network Services India Pvt. Ltd., was awarded national and long distance licenses by the government last year. BT set up its Indian joint venture, in which it holds 74 percent of the equity, last year. Then in February it announced that it had signed an agreement to acquire i2i Enterprise Pvt. Ltd., an enterprise services company based in Mumbai that specializes in IP communications services. In September BT said it expected revenue from India to be $250 million by 2009, and that it would increase its headcount in the country by 6,000 within two years. The company signed aÂ five-year outsourcing contractÂ in December with Tech Mahindra to support BT's managed services for businesses around the globe, as well as BT's internal systems. It owns a minority share in the outsourcing company. Â
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Celtel, a pan-African mobile phone operator, is to float on the London Stock Exchange early next year in a move that will value the stake of Mohamed Ibrahim, a former technical director of BT Cellnet and founder of the mobile group, at up to &pound;275m (&#36;496m).