UK-based BT Group has put its entire business in Latin America up for sale, the Mail on Sunday has reported, citing sources in the City. The article claims that BT has settled on a strategy of offloading ‘everything outside the UK’ to draw a line under overseas controversies – notably significant accounting irregularities at BT Italia – and arrest a three-year share price slide.
As such, BT’s internal deals team has also been sounding out potential buyers for the sprawling Latin American business, which has a presence in most countries within the region. Separate reports value the business at around GBP1 billion (USD1.2 billion). The divestment represents the latest component of the ongoing break-up and restructuring of BT’s international arm, Global Services (see below).
As previously reported by TeleGeography’s CommsUpdate, in April this year the telco put its BT Ireland business up for sale, for GBP400 million (USD509.1 million). Subsequently, last month it was revealed that BT Group was exploring the sale of its Spanish business. Potential bidders for BT Espana are understood to include buyout firms and infrastructure investors rather than Spain’s major B2C operators.