LONDON (Brand Republic) – BT is to buy a further 45% stake in its joint venture company Viag Interkom for $6bn, giving it a controlling interest in the telecoms firm.
Viag was set up by BT in partnership with German energy group Eon. The deal represents another step in BT’s strategy to become a pan-European service provider. The German operation adds to ventures it now controls in the Netherlands and Ireland.
Viag Interkom is Germany’s third-largest telecoms group with operations in fixed-line and mobile communications.