British Telecom, through BT Singapore Pte Ltd, will shortly buy out (lock, stock & barrel) Frontline Technologies Corporation of Singapore. Frontline Technologies Corporation owns 51% stake in Accel Frontline and this will very shortly make Accel Frontline 51 per cent owned by the $18-billion British Telecom.
This development will bring excellent business opportunities to Accel Frontline. This is the biggest milestone in the (16-year) history of the company and will bring benefits to all stakeholders.
Experts note that this is a clear case of change in ownership and BT will have to come out with an open offer.
Kolkata-based jute baron, Mr Arun Bajoria, had picked up 10 per cent stake in Accel Frontline, from the market in the last few months.