BT Sells SmarTone Stake

BT agrees to sell its 21% interest in SmarTone, Hong Kong's third-largest mobile operator, to Sun Hung Kai for HK$1.03B (US$132.1M) in cash

December 31, 2002

1 Min Read

LONDON -- BT announced today that it has agreed to sell its 21 per cent interest in SmarTone, Hong Kong's third largest mobile operator, to Sun Hung Kai for a total consideration of HK$1.03bn (£82.4m) in cash. The transaction, which is expected to complete in January, is part of BT's programme of non-core asset disposals and another step in its debt reduction programme.BT will, of course, continue to operate in the Asia Pacific region serving multisite corporates through BT Ignite. British Telecommunications plc (BT)SmarTone Mobile Communications Ltd.

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