BT In Talks To Buy O2 Mobile Unit From Telefonica

BT Group PLC shares rose almost 3% after it said Monday it is in talks to buy U.K. mobile business O2 from Telefonica . The British telecoms company said it has received expressions of interest from O2 and another U.K. mobile network operator about possible takeover by BT. "All discussions are at a highly preliminary stage and there can be no certainty that any transaction will occur," BT said in a statement, which it said was issued in response to press speculation. " A further announcement will be made if and when appropriate." BT shares were up 2.8% Monday morning, while Telefonica shares gained 0.8%.