BT to hold onto Eutelsat following low offers

31 Mar 2003

UK-based BT Group is widely tipped to hang on to its 17.5% interest in European satellite operator Eutelsat until at least the end of the year, following a poor response from strategic and private equity investors. BT Group has apparently rejected a number of indicative bids as too low, including offers from private equity company Blackstone, Belgian telco Belgacom and Italian electronics group Finmeccanica.