African Equity Empowerment Investments (AEEI) claims that global telecoms group BT won't be able to end its relationship. AEEI is a subsidiary of Iqbal Survé's Sekunjalo Group. In 2008, BT sold a 30% stake in its BT Communications Services South Africa (BTSA) to Sekunjalo as part of a black empowerment deal. However, AEEI on Wednesday issued a statement saying that BT cannot exercise its call option. "BT will be exploring alternative options to meet its BEE and licensing obligations," a BT spokesperson told Fin24.

Source: News 24 June 09, 2021 14:15 UTC