BT Group PLC
16 January 2008
16 January 2008
BT COMPLETES THE ACQUISITION OF 68.6% OF NET2S SA
Following its announcement on 13 December 2007, BT announces today that it has
completed the acquisition of 68.6% of Net2S SA's outstanding issued share
capital from four controlling founding shareholders at a price of €5.27 per
share. The deal values the entire outstanding issued share capital of Net2S SA
at approximately €68.5 million.
Subject to approval from France's Autorite des marches financiers, BT will
implement in the coming weeks a public tender offer for the remaining issued
share capital of Net2S SA at a price of €5.27 per share (the "Tender Offer").
The consideration for the Tender Offer will be payable in cash. Net2S SA's
board of directors has approved the Tender Offer.
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 networked
IT services; local, national and international telecommunications services;
higher-value 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 March 31, 2007, BT Group plc's revenue was £20,223 million
with profit before taxation of £2,484 million.
British Telecommunications plc is a wholly-owned subsidiary of BT Group plc and
encompasses virtually all businesses and assets of the BT Group plc. BT Group
plc is listed on stock exchanges in London and New York.
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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