BT winded by O2 re-branding

Facelift fails to breathe new life into ailing telco...

BT shares fell this morning after the company said it is to re-brand its wireless division before it is spun-off in November. Shares fell 2.3 per cent to 412.5p in early morning trading before gaining ground to stand at 423p - a 1.78 per cent decline - by 09.30(BST). BT Wireless will be renamed O2 in a deliberate attempt to distance the division from its parent company. Shares in BT have fallen 19 per cent this year, and are down 50 per cent on the year ago period. The O2 brand will come into effect from spring 2002.