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BT to sell stake in Japan Telecom

BT has confirmed that it is in talks with Vodafone about the sale of its 20% stake in Japan Telecom.

The greedy telcom company is looking for ways to raise finance in an attempt to start to cut its £30bn debt mountain. The sale is expected to raise about £3bn and will include the sale of BT's stake in Japanese mobile operator, J-Phone.

BT holds many interests in foreign telecom operators, but many of these investments do not allow BT (thankfully for these companies) any controlling stake.