BT Group Board on Alert for Takeover Approaches

(Bloomberg) --

BT Group Plc’s board asked its bankers Goldman Sachs Group Inc. to update its takeover defense strategy, Sky News reported on Saturday, citing people familiar with the matter.

The request comes after BT’s share price fell more than 35% in the last six months, and there has been speculation about interest in the company’s Openreach Unit. BT’s board may also ask U.K. investment bank Robey Warshaw to assist in the strategy, Sky reported.

The British telecommunications giant has not received a formal approach from a potential buyer, according to the report, but the people familiar said a number of private equity groups are considering the possibility of making a joint bid.

BT declined to comment to Sky.

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