BT to buy out Albacom partners?

28 Jun 2004

BT is reported to be in discussions with its Italian partners over the acquisition of their stakes in loss-making corporate telecoms provider Albacom. The Chief Executive of Eni, Vittorio Mincato, told reporters that he was in talks regarding the sale of his company’s 35% stake, while a Mediaset spokesperson also confirmed negotiations with BT were underway. Italian broadsheet Il Mondo claims BT is hoping to increase its 26% stake to 100% before merging it with applications service provider I.Net, which is 50% owned by the British telco.

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