British Telecommunications PLC
19 January 2000
BT TO BUY PARTNERS' 50 PER CENT SHARE OF OCEAN
BT today announced that it has agreed with Ireland's
Electricity Supply Board and US insurance group AIG to
acquire their 50 per cent shareholding in Ocean
Communications Ltd for around £130 million. BT continues to
be pleased with the performance of Ocean and will support its
rapid development in the fast-growing Irish telecoms market.
A BT spokesman said: 'BT is happy to have brought a period
of uncertainty to an end, and Ocean's customers, management and
employees can now look forward to a successful future for the company
as part of the BT group.'
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