British Telecommunications Giant BT Says It Is in Talks to Acquire O2

The British telecommunications giant BT is in early-stage takeover talks with O2, the British cellphone carrier owned by the Spanish company Telefónica.

In a brief statement, BT said it was in discussions with shareholders of two of the country’s mobile operators, including O2, about a possible takeover. The company, which operates an extensive cable network, did not identify the second potential target, though analysts have speculated that EE -- the British joint venture between Orange of France and Deutsche Telekom of Germany -- could offer an extensive mobile network across one of Europe’s largest telecom markets.