British Telecom is to unveil a raft of measures this week aimed at slashing its £30 billion debt burden and appeasing angry shareholders, according to weekend media reports.
The reports said the restructuring by the British telecommunications giant will include the full demerger to shareholders of its mobile operations, BT Wireless, a move analysts estimage could be worth up to £20 billion.
BT also plans to announce a £5 billion rights issue and a fall in profits of £1 billion for the year to March 31, as well as the scrapping of its final dividend.
A BT spokesman declined to comment on the reports.
BT announced last Wednesday it is selling its interests in Japan and Spain to its British rival Vodafone for £4.8 billion pounds. On Friday, it said it had agreed to sell its stake in Maxis Communications Berhad of Malaysia to its partner Usaha Tegas Sdn Bhd for £350 million.
