BT Group PLC
26 November 2004
November 26, 2004
BT SELLS EUTELSAT STAKE FOR £363 MILLION
BT announced today that it had signed a definitive agreement with GS Capital
Partners 2000, an investment partnership affiliated with Goldman Sachs, to sell
its entire shareholding in Eutelsat for a price of £363 million in cash.
The transaction is conditional only upon the approval of the Board of Eutelsat
and is expected to complete in the current financial year.
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Enquiries about this news release should be made to the BT Group
Newsroom on its 24-hour number: 020 7356 5369. From outside the UK dial
+ 44 20 7356 5369. All news releases can be accessed at our web site:
http://www.bt.com/newscentre
About BT:
BT is one of the world's leading providers of communications solutions serving
customers in Europe, the Americas and Asia Pacific. Its principal activities
include IT and networking services, local, national and international
telecommunications services, and higher-value broadband and internet products
and services.
BT consists principally of three lines of business:
• BT Retail, providing fixed and mobile communications services and
solutions and IT and networking services to more than 20 million business
and residential customers in the UK. It is also a leading UK internet
services provider.
• BT Wholesale, providing network services and solutions within the UK to
more than 600 fixed and mobile operators and service providers including the
provision of broadband, private circuits and PSTN.
• BT Global Services, providing IT and networking services internationally
to meet the needs of multi-site organisations with European operations. BT
Global Services operates in more than 130 countries and also offers
international carrier services.
In the year ended 31 March 2004, BT Group's turnover was £18,519 million with
profit before goodwill amortisation, exceptional items and taxation of £2,013
million.
BT Group plc is listed on stock exchanges in London and New York. British
Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and
encompasses virtually all businesses and assets of the BT Group.
For more information, visit www.bt.com/aboutbt
This information is provided by RNS
The company news service from the London Stock Exchange
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