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  • British-based telecoms giant BT is reportedly in talks to sell a multi-billion pound stake of its Openreach division to investors, according to media reports on Thursday. The move could help bankroll an upgrade to the UK's national broadband network as Openreach maintains the telephone cables and exchanges that connect nearly all homes and businesses in the United Kingdom. Potential buyers, reported the Financial Times newspaper, include the Australian bank Macquarie and an undisclosed sovereign wealth fund. Openreach is seen as the most profitable division within BT and the potential sale could value it at about £20 billion (22 billion euros, $24 billion), estimated the FT. Formerly state-owned, BT, which is now in private hands, operates the UK's largest broadband and mobile phone networks. It was privatised in 1984 during the Conservative premiership of Margaret Thatcher. The quality of broadband has become an increasingly important political issue in the UK, with prime minister Boris Johnson pledging "gigabit broadband sprouting in every home" in Britain by 2025. And the former main opposition leader, Labour's Jeremy Corbyn promised to renationalise BT and Openreach at the last General Election, if he got into power. bur-dmh/bsp
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  • BT 'in talks' to sell off Openreach
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