BT is reportedly engaging in discussions with musicMagpie plc regarding a potential acquisition.

BT Group is currently in discussions with musicMagpie, a fellow listed company that sells and rents gadgets. The company, which was founded by CEO Steve Oliver and Walter Gleeson, initially started as a reseller of CDs, but today it has expanded its services to offer subscriptions and rentals of smartphones and tablets. MusicMagpie is regarded as a champion of the circular economy, and these talks are seen as an opportunity for BT to enter this sector. Private equity firm, Aurelius Group, is also reportedly involved in these discussions. However, both parties have stated that any such offer is in its early stages, and there is no guarantee that it will come to fruition. BT and Aurelius have until 5pm on 18 December 2023 to announce their intentions regarding a firm offer for musicMagpie.