BEE-T

5 Nov 2008

The UK telco BT has announced plans to sell off a 30% stake in its South African operations to comply with Black Economic Empowerment (BEE) legislation. The stake is being acquired by Sekunjalo Investments, a black-controlled company, for ZAR27 million (USD2.8 million), Dow Jones reports. BT South Africa provides networked IT services to corporate clients including Anglo American, Barclays Bank and Visa.

South Africa, BT Group (incl. Openreach)