Synopsis
British Telecom spun off its wireless operations in November 2001 to form mmO2 plc, a separately listed company encompassing all the mobile activities of the former BT Wireless. This report highlights the new company’s major activities, its restructuring program and its financial status. The subsidiary companies in the UK, Ireland, the Isle of Man and Germany are all profiled, as well as the pan-European mobile Internet portal Genie. The Dutch operation was sold during 2003. Following a program of profit improvement, the company achieved an 11% increase in customers, and an 18% increase in service revenue.