October 10, 2007 / 6:39 AM / 11 years ago

BT to buy 68.6 pct of Net2S with shares and cash

LONDON, Oct 10 (Reuters) - British telecoms company BT Group Plc (BT.L) said on Wednesday it was buying 68.6 percent of Net2S SA from four controlling founding shareholders, in a deal valuing the French company at 68.5 million euros ($96 million).

BT said in a statement the deal was worth 5.27 euros per Net2S share. It will issue shares in exchange for 5.57 million Net2S shares representing 42.9 percent of its issued share capital held by three founding shareholders. The remaining 3.34 million Net2S SA shares being acquired will be paid for in cash.

((Reporting by Dan Lalor dan.lalor@reuters.com +44 20 7542-2737))

($1 = 0.7120 euro) Keywords: BT NET2S/

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