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6/25, 7:23 AM (Source: TeleTrader)
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BT mulling sale of Spanish business - reports

BT Group Plc is considering selling its Spanish business as the break-up and restructuring of its international arm continues, the Telegraph reported on Tuesday citing sources familiar with the matter.

The British telecom operator has begun exploratory talks with potential buyers for BT Espana alongside the ongoing sale of its Irish arm BT Ireland, according to the newspaper's sources. However, they added that discussions were still at an early stage and that any deal would in all likelihood appeal more to buyout firms and infrastructure investors than any of Spain's telecom operators. BT also previously considered packaging its Spanish business together with its Latin American operations in a sale.

The reports come after BT recently said that it would reduce the number of its United Kingdom offices from 300 to 30 in accordance with its latest consolidation plan. It also announced in May that it will cut 13,000 jobs over the next three years in a bid to reduce costs after a fourth-quarter drop in revenue.

Breaking the News / DZ