Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education



Front Page

World

UK

UK Politics

Business

Sci/Tech

Health

Education

Sport

Entertainment

Talking Point

In Depth

On Air

Archive
Feedback
Low Graphics
Help

Thursday, April 8, 1999 Published at 06:15 GMT 07:15 UK


Business: The Company File

BT expands into China

China still remains closed to most foreign telecoms companies

British Telecom has made a move into the Chinese market with the purchase of a 20% stake in Hong Kong's third largest mobile phone operator.

The £240m move on SmarTone brings BT's total investment in the Asia-Pacific region in the past six months to more than £750m.

BT now has more than a dozen Asia-Pacific alliances, partnerships and joint ventures.

Buying local, going global

The company's strategy is to buy up stakes in locally owned and run telecoms firms that are connected to the wider world by BT's global networking capability.

President and chief executive of BT Worldwide, Alfred Mockett, said the aim was to influence the use of technologies in other parts of the world so that as many operations as possible used the same transmission techniques.

BT's Asia division will be the second biggest shareholder in SmarTone which has just under 500,000 users. The largest shareholder is a Hong Kong property developer Hung Kai Properties, with what will be a 26.34% stake.

BT is paying HK$25 a share, an 11% premium on SmarTone's closing price on 1 April.

The Chinese market is still closed to foreign operators although the American company AT&T is understood to be involved in laying a fixed line service in the country.





Advanced options | Search tips




Back to top | BBC News Home | BBC Homepage | ©


The Company File Contents


Relevant Stories

30 Mar 99 | The Company File
BT and AT&T clear regulator

25 Nov 98 | The Company File
Excite goes 50-50 with BT





Internet Links


BT


The BBC is not responsible for the content of external internet sites.




In this section

Microsoft trial mediator welcomed

Vodafone takeover battle heats up

Christmas turkey strike vote

NatWest bid timetable frozen

France faces EU action over electricity

Pace enters US cable heartland

Mannesmann fights back

Storehouse splits up Mothercare and Bhs

The rapid rise of Vodafone

The hidden shopping bills

Europe's top net stock

Safeway faces cash demand probe

Mitchell intervenes to help shipyard

New factory creates 500 jobs

Drugs company announces 300 jobs

BT speeds internet access

ICL creates 1,000 UK jobs

National Power splits in two

NTT to slash workforce

Scoot links up with Vivendi

New freedom for Post Office

Insolvent firms to get breathing space

Airtours profits jump 12%

Freeserve shares surge

LVMH buys UK auction house

Rover - a car firm's troubles