BT has officially moved back into the mobile operator business, as they launch a new MVNO with Vodafone, leaving spun off MM02 as a spurned child. In some ways, BT is a parallel to AT&T in the US, which spun off AT&T Wireless a few years ago, and will now be getting back into the mobile game as an MVNO with Sprint. In August last year there was a silly rumor that BT would buy back O2, which we indicated was bunk since we though it was more likely they would re-enter wireless with an MVNO.

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