British Telecommunications PLC
16 January 2001
January 16, 2001
BT TO MAKE FINAL PURCHASE FOR VIAG INTERKOM
OWNERSHIP
BT today confirmed that it would be buying the 45 per cent stake in German
fixed and mobile operator Viag Interkom held by E.ON for Euro 7.25 billion,
completing an option agreement announced last year.
BT will buy the E.ON stake following the German utility's decision
yesterday to exercise a put option which was part of a deal signed in August.
The purchase gives BT full ownership of Viag Interkom.
In December, BT confirmed that it would buy the ten per cent stake
in Viag Interkom held by Norwegian telecommunications company Telenor for Euro
1.61 billion. That purchase is due to complete by the end of this month.
A BT spokesman said: ' The purchase of E.ON's stake in Viag Interkom
will give us full ownership of a major and innovative player in the German
telecommunications market - the largest national communications market in
Europe.
' The cost to BT of the put option was fixed last year and has been taken into
account in our predicted debt levels for the end of the current financial
year.'
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