BT to Repurchase GBP200 Million Shares From Orange
20 June 2017 - 3:24AM
Dow Jones News
LONDON--British telecommunications services company BT Group PLC
said Monday it will repurchase up to 200 million pounds ($255.46
million) worth of shares from French telecommunications company
Orange.
Orange intends to offer around 133 million shares in BT to
investors via an accelerated book build offering.
BT said it will participate in the offering and will repurchase
GBP125 million shares. Separately, it intends to fund the
repurchase of GBP75 million shares by the trustee of the company's
employee share ownership trust.
Shares BT on Monday closed at 290 pence each.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
June 19, 2017 13:09 ET (17:09 GMT)
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