LONDON (dpa-AFX) - Telecom major BT Group plc (BT-A.L) on Wednesday said it has agreed to sell its BT Tower to MCR Hotels for 275 million pounds.
MCR hotels plans to preserve the tower as an iconic hotel.
According to the telecom company, as the UK heads into a digital future many of the network operations that were traditionally provided by the tower are now being delivered via BT Group's fixed and mobile networks.
'We are proud to preserve this beloved building and will work to develop proposals to tell its story as an iconic hotel, opening its doors for generations to enjoy,' commented Tyler Morse, CEO of MCR Hotels.
Currently, BT shares are trading at 106.95 pence, up 0.09% in London
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