BT launches public offer for

RNS Number : 3332M

BT Group PLC

27 January 2009

 



BT LAUNCHES PUBLIC OFFER OVER REMAINING NET2S SHARES

Following its announcement on 7 January 2009 of the acquisition of Trafalgar Catalyst Fund's entire shareholding in Net2S S.A. ("Net2S"), BT Group plc ("BT") has today filed a draft buyout offer with the Autorité des marchés financiers ("AMF") in France to purchase the remaining c.2.19% in Net2S that BT does not currently own. 

The offer relates to a maximum of 348,120 shares in Net2S and will be at an offer price of €5.27 per share, payable in cash from BT's existing resources, and amounts to a maximum potential consideration of approximately €1.83m. The offer is subject to AMF approval. The public offer will be followed immediately by a compulsory acquisition of any outstanding Net2S shares not owned by BT at that time.

ENDS

For further information

Inquiries about this statement 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: www.bt.com/newscentre

About BT

BT is one of the world's leading providers of communications solutions and services operating in 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to our customers for use at home, at work and on the move; broadband and internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, Openreach, BT Retail and BT Wholesale.

In the year ended 31 March 2008, BT Group's revenue was £20,704 million with profit before taxation and specific items of £2,506 million.

British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.  

For more information, visit www.bt.com/aboutbt

About NET2S

NET2S is a consulting group specialized in the implementation of innovating solutions focusing on information and communication technologies, and a leading provider on the security market. Established in Paris, London, New York, Zurich, Brussels, Madrid and Casablanca, NET2S had 860 employees (including 698 consultants and engineers) at 30th September 2008. The combination of technological solutions and cross-functional offers, with dedicated business lines, particularly in the finance and telecoms sectors, allows NET2S to offer its customers high value added. 

NET2S is a BT group company.

For more information, visit www.net2s.com

 

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