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05/09/2001
BT split set to take place in November
British Telecom has set Monday November 19 as the date it will split the company into two separate entities - BT and O2.
Shares in the demerged mobile phone arm ‘O2’ - formerly BT Wireless - will begin trading on that date, and investors may be encouraged to find that BT has put £500 million of its debts into the mobile business, less than had been expected.
The struggling telecoms giant announced its plan to split into two firms in May, as part of a plan to cut debt and revive its fortunes. Analysts believe the new company will be worth around £15 billion.
Shareholders are due to meet in October to formally approve the split.
BT revealed earlier in the week that it was to rename its BT Wireless mobile phone business 'O2'. The name change will eventually spell the end for the variety of brands currently controlled by the BT Wireless group. These include Cellnet in the UK and Digifone in the Republic of Ireland.
BT's mobile phone internet portal Genie will also be relabelled under the new name. (MB)
Shares in the demerged mobile phone arm ‘O2’ - formerly BT Wireless - will begin trading on that date, and investors may be encouraged to find that BT has put £500 million of its debts into the mobile business, less than had been expected.
The struggling telecoms giant announced its plan to split into two firms in May, as part of a plan to cut debt and revive its fortunes. Analysts believe the new company will be worth around £15 billion.
Shareholders are due to meet in October to formally approve the split.
BT revealed earlier in the week that it was to rename its BT Wireless mobile phone business 'O2'. The name change will eventually spell the end for the variety of brands currently controlled by the BT Wireless group. These include Cellnet in the UK and Digifone in the Republic of Ireland.
BT's mobile phone internet portal Genie will also be relabelled under the new name. (MB)
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03 September 2001
BT Wireless to be renamed ‘O2’
British Telecom (BT) has announced it is to rename its BT Wireless mobile phone business 'O2'. The name change comes ahead of the demerger of the mobile business from BT, which is expected to take place in November. The name change will eventually spell the end for the variety of well-known brands currently controlled by the BT Wireless group.
BT Wireless to be renamed ‘O2’
British Telecom (BT) has announced it is to rename its BT Wireless mobile phone business 'O2'. The name change comes ahead of the demerger of the mobile business from BT, which is expected to take place in November. The name change will eventually spell the end for the variety of well-known brands currently controlled by the BT Wireless group.
03 September 2001
Union brings pressure to bear on BT split
Chancellor Gordon Brown has offered the Communication Workers Union (CWU) a meeting with Department of Trade Minister Patricia Hewitt on the split of BT into BT Future and BT Wireless which is to be rebranded. It is understood that Mr Brown has not rejected the union argument that the two must be kept as a single entity.
Union brings pressure to bear on BT split
Chancellor Gordon Brown has offered the Communication Workers Union (CWU) a meeting with Department of Trade Minister Patricia Hewitt on the split of BT into BT Future and BT Wireless which is to be rebranded. It is understood that Mr Brown has not rejected the union argument that the two must be kept as a single entity.
13 November 2001
Vodafone announces huge loss
Over-ambitious acquisitions during the late 1990's by UK mobile operator Vodafone has resulted in company posting losses of £8.45bn over the same period. The bulk of the loss stems from the company’s decision to absorb the cost of recent acquisitions now, rather than wait for their new subsidiaries to pay for themselves.
Vodafone announces huge loss
Over-ambitious acquisitions during the late 1990's by UK mobile operator Vodafone has resulted in company posting losses of £8.45bn over the same period. The bulk of the loss stems from the company’s decision to absorb the cost of recent acquisitions now, rather than wait for their new subsidiaries to pay for themselves.
23 October 2001
Unions brand BT demerger as “insane”
The Communication Workers Union (CWU) has mounted an eleventh hour bid to save BT from inflicting “insane” damage on the company by a demerger.
Unions brand BT demerger as “insane”
The Communication Workers Union (CWU) has mounted an eleventh hour bid to save BT from inflicting “insane” damage on the company by a demerger.
30 July 2001
BT faces future competition from Virgin
Sir Richard Branson is planning to take on British Telecommunications by pitting Virgin against BT in the fixed-line telephone market next year, as reported by the Independent on Sunday.
BT faces future competition from Virgin
Sir Richard Branson is planning to take on British Telecommunications by pitting Virgin against BT in the fixed-line telephone market next year, as reported by the Independent on Sunday.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
