O2 gets its 3G licences for free

BT to shoulder debts as mobile arm flies the nest...

BT has announced that is will demerge its O2 wireless arm on 19 November and foist just £500m of debt upon the liberated operator when it spins it off from the main body of BT. The decision will make the mobile phone operator the healthiest in the sector. While it will still have the benefits of the 3G licences it bought during the costly auction processes it will not be saddled with the ensuing debts. BT is to meet with analysts later today to further discuss the details of the de-merger.