TELECOMMUNICATIONS & TECHNOLOGY
From Times Staff and Wire Reports
British Telecom Eyes U.S. Market: British Telecommunications said it has filed documents with the Securities and Exchange Commission to enable the British government to sell more shares in the giant company in the United States. The British government’s 21.8% stake in British Telecom, the world’s most profitable telecommunications company over the last decade, is worth about $8 billion at current market prices. The offering should be complete in mid-July, S.G. Warburg Securities, the global coordinator, said in a statement. The offering would increase the number of BT shares that now trade in the United States.
