BT Completes Atlanet Buy

BT announced the completion of the acquisition of Atlanet

March 1, 2006

1 Min Read

LONDON -- BT announced today the completion of the acquisition of Atlanet S.p.A. and the commencement of the associated contract for the supply of global telecommunications services to Fiat, worth €450m over 5 years. Atlanet was a Fiat subsidiary primarily providing domestic telecommunications services to Fiat and other non-Fiat business customers across Italy. The acquisition has been approved by the Italian anti-trust authorities under the terms announced on December 13, 2005.

Andy Green, CEO BT Global Services, said: "The acquisition of Atlanet, boasting a large business customer portfolio in Italy, will further enhance BT's position in that key market and reinforce our excellent relationship with Fiat. Atlanet also provides additional strength in IP services and incremental network coverage that will further support BT Albacom’s strong growth momentum"

Corrado Sciolla, while remaining managing director of BT Albacom, has been appointed president of the board of directors of Atlanet. Massimo Rosi, currently BT Albacom’s director for purchase, logistics and planning, becomes Atlanet's Managing Director.

BT Group plc (NYSE: BT; London: BTA)

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