From Forbes magazine:
"Britain's largest phone company, on Thursday reported quarterly earnings rose 18 percent but said it would slash 6,000 more jobs by March to keep costs down and maintain its profits. Shares surged nearly 9 percent on the news."
Although the share price is up today, I suspect that the vast majority of investors who bought shares in the company probably lost money.
Remind me again, what was the original privatization share price?