The former British telecoms monopoly is looking to return to the British consumer mobile market. Both the company and O2’s Spanish owner Telefonica have confirmed they were in talks after Spanish website El Confidencial reported that O2 could be sold in return for a 20 per cent stake in BT as part of a "strategic alliance" to strengthen the two groups.
BT also said it was in talks with another British mobile operator, which two sources close to the matter identified as EE, owned by Orange and Deutsche Telekom.
"We have received expressions of interest from shareholders in two UK mobile network operators, of which one is O2, about a possible transaction in which BT would acquire their UK mobile business," BT said. "All discussions are at a highly preliminary stage and there can be no certainty that any transaction will occur."
BT is already working on a complicated plan to get back into consumer mobile...