BT shares jump on £10bn takeover talks

BT shares jumped 3.7% in afternoon trading after the telecoms group revealed it is in talks over a potential £10bn takeover of mobile businesses O2 or EE.

The telecoms group said it is in talks with the mobile networks over takeover plans that would give it a substantial competitive advantage over rival Vodafone, which plans to expand its business into TV and broadband. The deal could see the foreign owner of O2 or EE gain a 20% share in the telecoms giant in return for their UK business. Both O2 and EE have been valued by analysts at around £10bn. In a statement, BT said: "We have received expressions of interest from shareholders in two UK mobile network operators, of which one is O2, about a possible transaction in which BT would acq...