BT `taking stake in Japan Telecom'

BRITISH TELECOM and ally AT&T are close to paying 150bn yen (pounds 800m) for 30 per cent of Japan Telecom, an official of the Japanese company said yesterday.

The companies did not comment officially on reports that BT would take a 20 per cent stake and AT&T 10 per cent, but Japan Telecom told reporters a deal could be signed by the end of this month as BT and AT&T look to expand their $10bn global alliance in Asia.