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BT sells stake in satelite company

Discussion in 'General Discussions and Lounge' started by temi, Nov 26, 2004.

  1. temi

    temi Facilitator Webmaster

    Eutelsat has 24 satellites
    BT Group has sold its stake in the satellite operator Eutelsat as part of a growing focus on its core business.
    The sale marks BT's exit from the satellite business and ends a 25-year-old tie with the operator which it helped co-found in the late 1970s.

    The 15.8% stake in the Paris-based firm was sold for £368m ($675m) to GS Capital Partners 2000.

    During the past year, BT has sold its stakes in satellite operators Intelsat, Inmarsat and New Skies Satellites.

    Eutelsat has 24 satellites which enable broadcasters to reach viewers in Europe, Asia and the Americas.

    The dishes are also used by the defence industry.

    Large acquisitions

    source full story: news.bbc.co.uk/1/hi/business/4044613.stm

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