BT to start talks to sell stake in Openreach | Business

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BT is said to have entered into talks to sell a multi-billion pound stake in Openreach, which operates the UK broadband network.

Openreach, a BT subsidiary that operates as a separate legal entity, has been the subject of interest stories from infrastructure and private equity investors for years.

However, news of a potential sale comes a week after BT cut billions of dollars in dividends as the telecommunications company pledged to invest £ 12 billion in network upgrades. UK broadband with next generation fiber optic connections.

Potential interested investors could include Australian bank Macquarie, which has been actively involved in the UK telecommunications scene for years, and an unnamed sovereign wealth fund, according to the Financial Times.

However, Reuters reported that a source close to Macquarie said it had shown no interest in Openreach and was not in talks with BT.

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