BT reorganization revives speculation over Asian assets

BT reorganization revives speculation over the future of its Asian assets.
November 09, 2000
British Telecommunications, one of the world's most aggressive investors in Asia's mobile phone industry, said it will sell up to 25% of BT Wireless, its European mobile phone business, as part of a sweeping reorganization aimed at paying off debt and streamlining its operations to take advantage of the emerging market for third-generation mobile phone services.

The company said it also plans to sell its directory services unit and may sell stakes in its web hosting and broadband businesses. It aims to reduce its debt by รบ10 billion ($14.2 million) by the end of 2001 to halt the slide in its credit rating and reverse the decline in its share price.

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