BT takes full control of Cellnet

NEWS BT is to pay Securicor £3.15bn for the 40 per cent of BT Cellnet it does not already own. The UK government paved the way for the deal in February after previous attempts by BT to make Cellnet a wholly owned subsidiary were blocked by the Conservative government. The change in the mobile network's name to BT Cellnet was seen by many as a precursor to today's move. Securicor shareholders will receive either cash or loan notes after the transaction. BT chief executive, Sir Peter Bonfield, said in a statement: "The acquisition will leave us well placed to capitalise on the opportunities presented by second- and third-generation mobile technology in the highly competitive UK mobile market. We look forward to winning a 3G licence and building the UK's leading third-generation mobile business."