LONDON—British Telecommunications plc received final court approval for its demerger of the mmO2 business. The demerger will create two new holding companies—one for the BT Group businesses and one for the mmO2 mobile businesses. BT said the listing of the two new companies, BT Group plc and mmO2 plc, on the London and New York stock exchanges is expected on Nov. 19.
The High Court of Justice in England and Wales completed hearings, which sanctioned the scheme of arrangement and approved the reduction of the share capital of BT.
