Sunday 18 August 2019 2:31 pm

BT lines up £100m sale of Dutch infrastructure in bid to simplify business

BT is said to be preparing the sale of more than £100m worth of infrastructure in the Netherlands, marking the latest step in its radical simplification plan.

Boss Philip Jansen is set to offload telecoms towers and broadband cables that serve the firm’s Global Services business customers in the country, the Sunday Times reported.

Read more: BT eyes £80m sale of legal software division Tikit as it focuses on full fibre

BT’s Global Services division posted a five per cent decline in revenue to £1.1bn in the first quarter, which it blamed on divestments and its strategy of reducing low-margin business.

A sale would be the latest iteration of Jansen’s plan to sell off fringe parts of the business and focus BT’s efforts on the rollout of full-fibre broadband.

Earlier this month it emerged the telecoms firm is planning an £80m sale of Tikit, its legal software business.

BT has also announced its intention to delist from the New York Stock Exchange and deregister with the Securities and Exchange Commission. The company said the move would help to simplify its reporting process and reduce costs.

BT has been battling to restore investor confidence after a torrid period that has seen its share price sink more than 30 per cent since the start of the year.

The firm last month said it would hold its dividend for the full year, despite speculation the payout might be cut to fund broadband investment.

Read more: BT to move headquarters to new City location by end of 2021

However, chairman Jan du Plessis has warned BT may decide to slash the dividend in the coming years as it looks to meet its targets for the superfast broadband network.

BT has been contacted for comment.

Main image credit: Getty