A £2bn sale and lease-back deal for 7,500 of British Telecommunications (BT) offices and telephone exchange buildings to a group led by Land Securities has been confirmed, according to the Financial Times.
Reports in The Daily Telegraph, The Guardian and The Independent say BT has merely named the joint venture between Land Securities Trillium offshoot and the William Pears Group as preferred bidder.
The Times says BT has confirmed it will sell 5.9m sq m (64m sq ft) from its property estate to the group. The Independent says BT hopes to pull off what will be the biggest property deal in British history by the summer.
Financial Times 11/04/01 page 25
The Daily Telegraph 11/04/01 page 36
The Times 11/04/01 page 25
The Independent 11/04/01 page 15
The Guardian 11/04/01 page 21
