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LONDON (Alliance News) - The Mail on Sunday said BT Group PLC is working with takeover advisers amid fears it could be targeted by German rival, Deutsche Telekom AG.
A three-year standstill agreement which prevented Deutsche Telekom from raising its stake in the FTSE 100 constituent expires on January 29, the newspaper reported, which could leave BT potentially at risk of a takeover bid.
The Mail, citing City sources, said that BT began working with Simon Robey and Simon Warshaw, founders of merger advice firm Robey Warshaw, and with bankers from Goldman Sachs late last year.
https://www.thisismoney.co.uk/money/markets/article-6560977/Are-Germans-coming-BT-FTSE-giant-rings-takeover-advisers-help-fend-bid.html
Shares in the London-listed telecommunications firm were up 0.7% at 239.05 pence on Monday.
Deutsche Telekom took a 12% stake in BT after the UK company acquired mobile operator EE in a GBP12.5 billion deal in 2016 from Deutsche Telekom and Orange.