British Telecommunications PLC
18 September 2000
September 17, 2000
British Telecommunications plc Statement
'British Telecommunications plc has been engaged this year
in a major strategic review, designed to maximise
shareholder value, increase operational effectiveness and
flexibility, improve services to customers and highlight the
strengths of the international businesses BT has developed.
'In April, BT announced a major and radical restructuring of
its business, including the creation of three new
international businesses - Ignite, BT Wireless and BT
Openworld - addressing the expanding data, mobile and
internet markets. During the course of this year
significant steps have been taken to develop the
international footprints of Ignite and BT Wireless in
particular, with control secured over Viag Interkom in
Germany, Telfort in Holland and Esat in Ireland, all at
attractive valuation levels. In addition, BT has increased
its participation in the Japan Telecom Group, which controls
J-Phone (its 2G and 3G mobile operations), again at an
attractive price.
'In April BT also indicated that further plans for its
businesses, including potential IPOs, would be announced
later this year.
'Naturally, the strategic review includes continuing
discussions with AT&T, BT's partner in the Advance wireless
alliance and in Concert, the leading global communications
provider for multinational business customers, international
carriers and service providers worldwide. These discussions
include exploring ways of broadening and strengthening the
scope of the relationship between BT and AT&T in business
services. These conversations are continuing and may or may
not lead to any change in the existing alliance
arrangements.
'BT intends to make a further announcement concerning the
outcome of its strategic review later this year in line with
the restructuring announcement in April.'
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