02 Apr 1998
BT has replaced Cellnet's managing director with one of its own board directors, signalling its readiness to take full ownership of the mobile operator.
Peter Erskine, currently managing director of BT's UK business division, will replace Ray Smith as the head of Cellnet. Smith was originally installed at Cellnet by BT a year ago, and will now become chief operating officer.
Sources within Cellnet said the appointment of Erskine "elevates the importance of Cellnet for BT". Erskine has a seat on BT's board, which Smith lacked.
It is expected that BT will acquire the 40 per cent stake it does not own in Cellnet. This share is currently held by Securicor. BT had previously agreed to pay Securicor #1.7bn for its share, but this was blocked by the Tory government, and the price is likely to have shot up to #2.5bn.
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