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The
rights issue in June 2001 and the demerger of O2 in November 2001
adjusted the value for capital gains tax purposes of BT shares
An explanatory note on
the effects of the rights issue on the CGT position relating to
BT shareholdings is available from the Shareholder
Helpline.
Demerger
of O2 – capital gains tax calculation |
The confirmed official
opening prices for BT Group and O2 shares on 19 November 2001 following
the demerger were 285.75p and 82.75p, respectively. This means that,
of the total (combined) value of 368.50p, 77.544% is attributable
to BT Group and 22.456% to O2. Accordingly, for CGT calculations,
the base cost of BT Group shares and O2 shares is calculated by
multiplying the acquisition cost of a BT shareholding by 77.544%
and 22.456%, respectively.
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