(Bloomberg) — BT Group Plc has approached major telecommunications companies about partnerships to help turn around its struggling international business, according to people familiar with the matter.
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The UK-based operator approached potential partners including AT&T Inc. and Orange SA to explore tie-ups that could involve selling a stake in its global segment, the people said, asking not to be identified because the discussions are private. Deliberations are preliminary and there’s no guarantee of a transaction, the people said.
BT’s global unit, which was recently folded into a larger business segment, has dragged down growth metrics for years, with steadily declining earnings and revenue. The unit accounted for about 11% of BT’s revenue in the first half of the 2025 fiscal year. It allows the British operator to serve customers around the world, but many of the contracts generate little profit and are costly to maintain.
Chief Executive Officer Allison Kirkby’s turnaround strategy has been to hone in on the UK, where BT dominates in both fixed and mobile customers. She’s said the international segment would be carved out with a full or partial-sale or streamlining. Revenue at BT’s global unit declined 9.9% in the six months ended in September from a year earlier to about £1.1 billion ($1.4 billion).
“We’re keeping everything open and this means we’ve been speaking to third parties about a range of possibilities,” a BT spokesperson said by email, declining to comment further.
A spokesperson for Orange said the company is focused on its business strategy, declining to comment on a potential approach. A representative for AT&T didn’t respond to a request for comment.
When asked about a potential BT partnership recently, AT&T Chief Financial Officer Pascal Desroches declined to comment on the deal. In general, AT&T would “only do something like that if we thought it’d really advance our strategy to be the very best connectivity company in America and deliver to our shareholders a really attractive return,” Desroches said.
BT shares rose 0.3% to 163.75 pence at 9 a.m. in London. The stock has gained about 14% this year.
(Updates to add details on the size of the unit in the third paragraph.)
