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    BT.A   GB0030913577

BT GROUP PLC

(BT.A)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/21 11:35:30 am
188.75 GBX   -0.40%
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India's Reliance denies report of bid for UK telco BT Group

11/29/2021 | 05:32am EST
FILE PHOTO: A man walks past a Reliance Industries Limited sign board installed on a road divider in Gandhinagar

(Reuters) - Reliance Industries Ltd said on Monday it does not intend to bid for British telecom company BT Group Plc after a media report that the Indian oil-to-telecoms conglomerate was considering an offer.

Billionaire Mukesh Ambani's Reliance might make an unsolicited offer to buy into BT Group or try to get a controlling share in it, the Economic Times reported https://bit.ly/3xFpsAj on Monday, adding that the firm may also propose to partner with BT's fibre optic arm, Openreach, and fund its expansion plans.

"We categorically deny any intent to bid for the UK telecoms group BT. The article is completely speculative and baseless," Reliance said https://bit.ly/3EaFiFK in a stock exchange filing.

Reliance's shares, which rose as much as 3.6% earlier in the day, closed 1.2% higher at 2,441.50 rupees.

BT declined to comment on the media report.

India's telecoms market, one of the world's biggest, has been upended by Ambani-controlled Jio Infocomm, which launched with free voice and cut-price data in late 2016.

Ambani has forced several rivals out of the market while others such as the local unit of Britain's Vodafone and India's Idea merged to withstand Jio's onslaught.

In September, Reliance was outbid by a consortium of Apax and Warburg Pincus for control over a Dutch unit of T-Mobile.

Reuters reported last week that Reliance and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of Reliance due to valuation concerns.

(Reporting by Rama Venkat and Nishit Jogi in Bengaluru; Editing by Devika Syamnath and Maju Samuel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BT GROUP PLC -0.40% 188.75 Delayed Quote.11.32%
RELIANCE INDUSTRIES LTD 0.02% 2477.85 Delayed Quote.4.63%
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Analyst Recommendations on BT GROUP PLC
More recommendations
Financials
Sales 2022 21 001 M 28 461 M 28 461 M
Net income 2022 1 452 M 1 967 M 1 967 M
Net Debt 2022 18 194 M 24 656 M 24 656 M
P/E ratio 2022 12,7x
Yield 2022 3,86%
Capitalization 18 706 M 25 364 M 25 351 M
EV / Sales 2022 1,76x
EV / Sales 2023 1,78x
Nbr of Employees 99 700
Free-Float -
Chart BT GROUP PLC
Duration : Period :
BT Group plc Technical Analysis Chart | BT.A | GB0030913577 | MarketScreener
Technical analysis trends BT GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 188,75 GBX
Average target price 205,13 GBX
Spread / Average Target 8,68%
EPS Revisions
Managers and Directors
Philip Eric Rene Jansen Chief Executive Officer & Executive Director
Simon Jonathan Lowth Chief Financial Officer & Executive Officer
Ulrica Fearn Group Finance Director
Adam Alexander Crozier Chairman
Howard Watson Chief Technology Officer
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