BT offloads more overseas investment

Run away, run away...

BT is poised to offload its New Zealand telco Clear Communications to Australian competitor Telstra in a NZ$300m (£88m) deal. Clear is New Zealand's second largest telecoms company. BT bought 25 per cent of the firm in 1996 and had invested heavily in the company, according to the FT. The sale of Clear is part of BT chairman Christopher Bland's continuing mission to offload its international interests and reduce its debt mountain.