BT Group prepares to fend off a possible takeover bid as share price falls

24 Aug 2020

BT Group’s board is reportedly preparing to defend itself from any takeover approaches from either industry rivals or buyout firms, after the company’s decision to suspend its dividend led to its shares declining to their lowest level in more than a decade. According to Sky News, with BT’s market capitalisation now standing at around GBP10.1 billion (USD13.2 billion) the company has called in Goldman Sachs to update its bid defence strategy. Meanwhile, it has been suggested that BT may call on London-based boutique investment bank Robey Warshaw to play a role in the telco’s defence strategy. It was noted, however, that BT has yet to receive a formal approach from any potential suitor.

United Kingdom, BT Group (incl. Openreach)