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Wednesday, November 25, 1998 Published at 11:19 GMT
Business: The Company File
BT switches on to the Internet
British Telecommunications (BT), the UK's largest phone group, has signalled that the Internet will form a major part of its future strategy by teaming up with US based Excite, one of leading companies involved with the worldwide computer network.
BT is paying $10m for a 50% stake in Excite's UK business.
Excite is a search engine which allows computer users to find their way around the Internet.
As such it is one of the most popular web sites on the Internet.
BT said the agreement will further develop its presence in Internet advertising and transactions.
The group already provides several services giving customers access to the Internet.
John Swingewood, BT's Internet and Multimedia director, said: "Taking a 50% share in Excite UK demonstrates BT's commitment to the internet industry and underlines our ambition to help grow the market and further improve our position within it.
BT has already announced a number of industry alliances and will continue to seek out further strategic partnerships."
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