Feeds

BT nets Cellnet from Securicor

It'll take a lot of Transit vans to cart away the £3bn payola

  • alert
  • submit to reddit

High performance access to file storage

BT is set to fork out a whopping £3.15 billion in cash to Securicor to acquire its minority holding in the mobile phone company Cellnet. The acquisition of Securicor's 40 per cent shareholding means that BT will control 100 per cent of the UK's second largest mobile phone operator behind Vodaphone. What's more, it appears that Securicor's shareholders have a windfall to look forward to thanks to the sale, which is still subject to regulatory approval. Securicor said that most of the cash would be paid directly to its shareholders. The rest will be pumped into Securicor's other concerns or used for future acquisitions. BT said the deal is likely to be completed in the fourth quarter of this year. BTCellnet, of which BT already owns 60 per cent, boasts more than five million customers. Profit before tax for the year ended 31 March was £118 million. Net assets as at 31 March were £431 million. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.