Britain’s BT group is looking to return to the UK mobile market, and sources say it is in talks with both Telefonica and EE to buy their businesses.<br /><br />Telefonica operates the 02 network in the UK, which was set up originally by BT before a 2001 sell-off. Telefonica might let 02 go for a 20% stake in BT and a grand strategic alliance.<br /><br />Telefonica only bought 02 eight years ago, but is struggling with a debt mountain it has to reduce to 43 billion euros by the end of the year. It is being forced to sell assets to cut that burden.<br /><br />All companies concerned saw their share prices rise on the news.
