(Bloomberg) -- Philip Jansen, the former chief executive officer of BT Group Plc, is in talks with private equity firms about acquiring Rentokil Initial Plc, the Sunday Times reported.
The plan would see Jansen become executive chairman of the pest control firm, which owns Terminix in the US, the newspaper said, without citing the source of the information. Both Jansen and Rentokil declined to comment when approached by Bloomberg News.
Last month, Bloomberg reported that activist investor Nelson Peltz’s Trian Fund Management LP had amassed a significant stake in Rentokil. Before the stake was disclosed, shares had lost more than a third of their value in London over the previous 12 months, with the company suffering from a post-pandemic slump.
Jansen stepped down as CEO at BT earlier this year, having been in the role since February 2019. During his time at the London-based telecommunications company, he focused investment on rolling out fiber optic connections across the UK while streamlining the rest of the business.
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