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BT offloads Rogers Wireless for £269m

Canadian mobile interest latest victim of Bland's cost-cutting extravaganza...

By Aled Herbert

Published: 4 July 2001 08:20 BST

The great BT car-boot bonanza continues with the sale of its 15 per cent stake in Rogers Wireless Telecoms - Canada's largest mobile operator - to AT&T.

The deal sees AT&T pay the troubled telco £269m for a stake it paid almost £300m for in August 1999. The original investment was a joint venture between the two telcos.

The news means BT has now sold over £5bn in minority interests in the last few months as it struggles to reduce its debt mountain.

Speculation is mounting that BT could soon offload its money-draining international telecoms interest Concert to AT&T.

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