TELECOMS operator BT yesterday announced the sale of its stake in one of the world's largest satellite companies for £363m.

BT said it was selling its 15.8 per cent share in Eutelsat to GS Capital Partners as part of an ongoing strategy to dispose of its non-core assets.

The company has now made $1bn through the sale of satellite assets in the past 12 months.

Paris-based Eutelsat is the world's third-largest satellite company.

Its network of 24 satellites distribute services including television and radio broadcasting for private viewers, professional video broadcasting, the Internet and mobile communications.

It transmits more than 1,450 television channels to 110 million cable and satellite homes in Europe, Africa and the Middle East.

BT was one of the founding investors when the group was formed 25 years ago.

During the past year, BT has sold interests in Intelsat, New Skies and Inmarsat.

The transaction depends on approval from the board of Eutelsat and is expected to be completed in the current financial year.

France Telecom and Deutsche Telekom have also sold their stakes in Eutelsat in the past two years.