By Joey Gardiner, 26 November 2001 11:21
NEWS BT has sold the bulk of its property portfolio to Telereal for £2.4bn in its continued bid to get its finances back on track. The telco has also offloaded 350 staff as part of the deal, which will see BT rent back most of the properties from Telereal. Telereal is a joint venture between property developer Land Securities and the William Pears Group. BT will have to pay £6 per square foot plus £190m flat charge each year for use of the buildings. The deal does allow BT to vacate the buildings at no extra co
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