Source data
British Telecommunications transfer and privatisation milestones
Sources checked
- 12 April 1984Telecommunications Act gains Royal Assent
The Act provided for transfer of the statutory corporation’s business. Source 1
- 6 August 1984Business transferred
British Telecommunications plc took over the business, property, rights and liabilities. Source 1
- November 1984First public offer
The government offered 50.2% of the shares to the public and staff. Source 1
- November 1991Second share issue
BT records the sale of 1.598 billion shares, raising about GBP 5 billion. Source 1
- July 1993Third share issue
The government sold nearly all its remaining shares for about GBP 5 billion. Source 1
- July 1997Special share relinquished
The share had conferred special takeover and board appointment rights. Source 1
The first offering transferred a majority. The later sales reduced the government’s remaining holding.
British Telecommunications transfer and privatisation milestones
The records distinguish the transfer of the statutory corporation’s business from the share offerings. Amounts are historical pounds at the time of sale.
| Source | |||
|---|---|---|---|
| 12 April 1984 | Telecommunications Act gains Royal Assent | The Act provided for transfer of the statutory corporation’s business. | Source 1 |
| 6 August 1984 | Business transferred | British Telecommunications plc took over the business, property, rights and liabilities. | Source 1 |
| November 1984 | First public offer | The government offered 50.2% of the shares to the public and staff. | Source 1 |
| November 1991 | Second share issue | BT records the sale of 1.598 billion shares, raising about GBP 5 billion. | Source 1 |
| July 1993 | Third share issue | The government sold nearly all its remaining shares for about GBP 5 billion. | Source 1 |
| July 1997 | Special share relinquished | The share had conferred special takeover and board appointment rights. | Source 1 |