BT denies bid reports

6 Mar 2006

The UK’s BT Group has dismissed reports that it is the subject of a GBP25 billion (USD43.9 billion) bid by private equity firms, saying it hasn’t received any offers. ‘The report is entirely speculative,’ a BT spokesman told Bloomberg. ‘No bid approach has been made as far as we’re aware.’ Local press claim that Blackstone Group, Macquarie Bank and Kohlberg, Kravis, Roberts & Company have spent the last two months preparing a bid for BT.

United Kingdom, BT Group (incl. Openreach)