BT to sell off Italian business

4 Apr 2017

The UK-based BT Group is to sell off its troubled Italian division BT Italia after revelations in January of accounting irregularities which forced the group to write down the value of the Italian unit by GBP530 million (USD660 million). According to a report from The Telegraph, a delegation from the parent has visited BT Italia for talks aimed at ‘making sure BT Italia is packaged up as something that can be sold’. Sources have named local rivals Vodafone Italy and Fastweb as potential buyers for BT Italia. The sale is not expected to be lucrative for BT Group as the Italian division is loss-making.

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