SUITORS for BT’s troubled Italian arm have until the end of tomorrow to launch a bid.
The telecoms giant put the business, which suffered a huge accounting scandal, up for sale some months ago.
The fraud in Italy was seen as the key factor in the departure of chief executive Gavin Patterson last month.
Credit Suisse has been advising BT on offloading the Italian arm, which made a loss last year on sales of €390 million (£352 million).
Its value has been written down to zero in BT’s books, so it is not likely to fetch much money in an auction. The deadline of December 14 was reported by Bloomberg. BT declined to comment.
The Italian business has some large corporate clients, including Fiat and Mediaset.
BT shares were flat today at 252p. They hit 480p three years ago.
