BT looks for some va va voom

6 Aug 2007

The UK’s BT Group is looking to boost its presence in the French business services market through the EUR60 million (USD82.7 million) acquisition of loss-making French firm CS Communication & Systemes, which currently manages communications networks and related IT systems for local companies and public sector bodies. A report in the Financial Times says the move is the latest in a series of acquisitions by BT Global Services which has become a major player in the segment in recent years through acquisitions in Asia, Europe, the US and Latin America. BT has tendered a binding cash offer of up to EUR60 million to CS Communication for its infrastructures division, a unit that generated EUR138 million of revenues last year and had an operating loss of EUR1.2 million. Analysts have broadly welcomed the move which they say will give BT a massive leg-up in a market where it is currently underperforming.

France, BT Global Services, BT Group (incl. Openreach)