28/06/2002

BT agree £5m Scoot.com directory deal

Following the deregulation of its 192 information service, BT has agreed a £5 million deal for the acquisition of troubled online service Scoot.com.

The deal is likely to boost BT's directory operation as the company faces increased competition following the deregulation.

While it is unknown at present if the Scoot brand and logo will be retained, BT did confirm that Scoot.com's assets would be merged into its own directories business.

The deal is still to be confirmed by shareholder approval within Scoot, however if the deal gets the go ahead around 300 jobs at the company's call centre in Telford and Uxbridge headquarters are likely to be secured.

BT said it has already secured around 26% backing of Scoot investors and also revealed that it would assume liabilities totalling £3 million as part of the deal.

(MB)

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