By Adriano Marchese and Adria Calatayud

J.P. Morgan Securities PLC said Wednesday that it has completed a sale of 46.7 million shares of U.K. telecommunications company BT Group PLC at a discount, raising 59.5 million pounds ($69.6 million).

The shares were placed at 127.5 pence each, which represents a 4.0% discount to BT's closing price on Tuesday, J.P. Morgan said.

The brokerage said Tuesday that the sale of shares follows the termination of BT's American Depositary Receipt program with J.P. Morgan. Holders of the ADRs had until March 23 to surrender their American depositary shares for cancellation.

Write to Adriano Marchese at adriano.marchese@wsj.com and to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

March 25, 2020 03:25 ET (07:25 GMT)

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