BT Renews Talks With AT&T, Orange, and Verizon for International Business Sale
BT's Strategic Moves in the International Market
May 15 (Reuters) - UK's BT is reviving talks over a possible sale or partnership of its struggling international business a year after halting negotiations, Sky News reported.
Britain's largest telecom group plans to rekindle talks with companies such as AT&T, Orange and Verizon, the report said.
Key Details of the Potential Sale
BT's Refocus on Domestic Market
• The sale will be part of BT's strategy to refocus on the domestic UK market where it has been losing customers to smaller rivals, pushing CEO Allison Kirkby to optimize its resources.
Background of the International Unit
• The reported discussions come over a year after BT unveiled plans to create a separate international unit following media chatter around partnership talks with AT&T and Orange.
• Last year, BT divested its financial information business, Radianz, in a bid to optimize its international business.
Leadership and Operations
• The international unit, which includes operations in countries such as Argentina, Brazil and Canada, is currently led by Clive Selley, the former boss at BT's other major business Openreach.
Advisors and Industry Response
• Lazard or Goldman Sachs are expected to work with BT on the talks, the report added, citing industry sources.
• BT declined to comment on a Reuters request for comment.
• AT&T, Orange and Verizon did not immediately respond to Reuters' requests for comment.
Reporting Credits
(Reporting by Simone Lobo in Bengaluru; Editing by Leroy Leo)
