Brit Mobile Phone Co. May Be Sold
LONDON (AP) _ U.S. telecommunications company MediaOne Group Inc. and Britain’s Cable and Wireless PLC said Wednesday they are considering the sale of One 2 One, Britain’s fourth-biggest mobile phone operator.
The companies said another possibility may be to spin off One 2 One through initial public offering of its stock.
A sale of One 2 One could fetch $18 billion, the Financial Times newspaper reported. It would be the first time that a British mobile phone company has changed hands.
Launched in 1993, One 2 One now has 2 million subscribers and covers 96 percent of Britain’s population.
The Financial Times said potential buyers include Germany’s Deutsche Telekom and Mannesmann Telekom, and U.S. companies Bell Atlantic Corp and SBC Communications Inc.
MediaOne, the fourth-largest U.S. cable company, said Monday it would explore the sale of its international wireless communications businesses after agreeing to be acquired by rival cable operator Comcast Corp.