BT looking to increase Albacom stake

29 Nov 2004

The Financial Times is reporting that BT, flush with the success of the sale of its Eutelsat stake last week, is seeking to increase its stake in its Italian corporate services provider Albacom. BT, which currently owns 26% of the telco, is keen to buy out fellow shareholders Eni, Banca Nazionale del Lavono and MediaSet, and all are reported to be keen to sell. Analysts estimate the purchase of the 74% stake will cost BT between GBP150 million and GBP180 million.

Italy, BT Group (incl. Openreach), BT Italia