By Pia Heikkila, 18 September 2001 08:25
NEWS O2, the re-branded BT Wireless, has suffered a second valuation setback from city analysts who have wiped £1bn off the company's predicted value. O2 is set to be valued at only £7bn by the investment bank Goldman Sachs when it IPOs in November. The valuation falls well short of its original valuation of £15bn. The most recent assessment had valued the company at around £8bn. The new figure comes from city analysts who doubt the value of O2 as a standalone company in light of the recent slump in telecoms shares. BT shares closed up by 18.5p at 376.5p yesterday.
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