BT is rumoured to be considering a £1 billion bid for rival Colt Telecom. If agreed, the deal is expected to improve the performance of BT’s struggling IT services division, Ignite.
BT is thought to be keen to acquire Colt’s fibre optic network, which links 32 European cities including Paris, Frankfurt and Brussels.
Reports suggest that talks regarding a possible deal have already taking place among BT’s senior executives. Informal talks with the CEO of Colt Telecom, Peter Manning are planned for later this summer.