BT’s U.K. Fixed Network Openreach Draws Buyer Interest
- British firm reviewing proposals including minority investment
- Phone and broadband network valued at as much as $33 billion
A network engineer from Openreach, a unit of BT Group Plc, connects wires inside a primary connection point box in this arranged photograph in Upminster, U.K., on Thursday, Nov. 10, 2016
Photographer: Chris Ratcliffe/BloombergBT Group Plc, the former phone monopoly under pressure to return to growth, is considering options for its U.K. fixed network after getting informal interest from private equity and infrastructure investors, according to people familiar with the matter.
The British company is evaluating inbound proposals including minority and majority stake purchases in Openreach, the national phone and broadband grid it still controls, said the people, who asked not to be identified as the matter is private. The deliberations are early stage and the company may decide against pursuing any of the ideas, they said. BT shares rose the most in three months.