UK’s BT Group shareholder sells substantial position in $224 million offering
A £167 million ($224.08 million) stake in Britain’s biggest telecoms group BT was offered for sale via an accelerated bookbuild, a bookrunner said on Monday.
An undisclosed shareholder, who launched the sale of about 85 million shares in BT, is monetizing the bulk of its position and is not subject to any lock-up on remaining holding.
The deal is secondary, meaning no new shares are being issued and no proceeds flow to BT. The settlement is expected on July 23.
