Macquarie Bank of Australia became the third financial adviser to work with British Telecommunications (BT) on its disposal programme this week, advising on the sale of a stake in the Malaysian group Maxis Communications.

BT's 33.33% holding in Maxis Communications is being sold for £350m (€563m) in cash to BT's Malaysian partner, the conglomerate Usaha Tegas. BT originally bought the stake for about £280m in 1998.