JP Morgan Sells BT Group Shares for GBP59.5 Million
25 March 2020 - 6:40PM
Dow Jones News
By Adriano Marchese and Adria Calatayud
J.P. Morgan Securities PLC said Wednesday that it has completed
a sale of 46.7 million shares of U.K. telecommunications company BT
Group PLC at a discount, raising 59.5 million pounds ($69.6
million).
The shares were placed at 127.5 pence each, which represents a
4.0% discount to BT's closing price on Tuesday, J.P. Morgan
said.
The brokerage said Tuesday that the sale of shares follows the
termination of BT's American Depositary Receipt program with J.P.
Morgan. Holders of the ADRs had until March 23 to surrender their
American depositary shares for cancellation.
Write to Adriano Marchese at adriano.marchese@wsj.com and to
Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
March 25, 2020 03:25 ET (07:25 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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