Article: BT shares soar on talk of GBP 20bn private equity bid

SHARES in BT Group jumped over 6 per cent yesterday on reports that the former monopoly could attract a GBP 20 billion bid from a consortium of private-equity firms.

The company dismissed the report, but it comes in the wake of rising private-equity activity in the European telecoms sector. A clutch of funds bought Denmark's TDC last year for dollars 12 billion (GBP 6.8bn).

Former Irish monopoly Eircom is being looked at by Australian investment company Babcock & Brown, while the smaller Kingston Communications has been targeted by Carlyle.

A swoop for BT ...

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