... AND ACQUIRES SECURICOR'S 40% STAKE IN CELLNET.

BT announced on July 27 that it was taking full control of Cellnet, Britain's second mobile phone operator, by acquiring Securicor's 40% stake in the company for 3.15 billion pounds (Euro 4.7 billion). In a statement, BT indicated that the acquisition will enable the group to increase investment in the rapidly growing mobile telephony market, notably in anticipation of bidding next year for licences in Great Britain for third generation mobile phones (UMTS) allowing Internet and multimedia access. The deal has still to be endorsed by Securicor shareholders but should be finalised during the final quarter of 1999. It will also require the approval of the UK's...

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