Indian billionaire mulls expanding BT stake Business Indian telecoms billionaire Sunil Bharti Mittal is reportedly considering boosting his stake in BT, according to a report in the Financial Times. Mittal already holds a 24.5 per cent stake in BT, which he bought from Luxembourg-based telecoms giant Altice – previously owned by Patrick Drahi. The expanded stake would continue to be held through [...]
BT successfully fights off £1.3bn ‘overcharging’ class action Legal Telecoms giant BT has successfully defended a £1.3bn class action over allegations it “disproportionately overcharged” its landline customers
BT: Challenging conditions hit revenue at FTSE 100 giant telecoms BT shares traded lower by as much as 3.9 per cent in early deals this morning after the company downgraded its growth outlook for the year. The company reported a slight decline in revenue for the half-year ended 30 September 2024 due to what it has called challenging conditions in its business arm and more [...]
How BT, EE, Plusnet, Talktalk, O2 and Virgin Media misled customers over mid-contract price rises October 9, 2024 Six of the UK’s biggest broadband providers, BT, EE, Plusnet, Talktalk, O2 and Virgin Media, failed to make mid-contract price increases clear to consumers, the advertising watchdog has ruled. The Advertising Standards Authority (ASA) said the companies misled consumers by placing important information about price rises separately to headline prices and in areas of less [...]
Plusnet price rises boost profit after John Lewis closure October 1, 2024 Profit has risen at Plusnet despite a slump in customer numbers following the closure of its mobile division and John Lewis axing its broadband platform. The Sheffield-headquartered broadband provider, which is owned by BT, suffered a 29 per cent reduction in its customer base following the closures. However, annual contractual price rises partially offset the [...]
BT adds EDF UK chair and former top civil servant to its board September 16, 2024 BT has appointed the chairman of EDF UK, who was previously one of the UK’s top civil servants, to its. board. Sir Alex Chisholm has taken up the role of a non-executive director at the telecoms giant. In a statement issued to the London Stock Exchange, BT said the appointment would allow it to capitalise [...]
‘It can be spaghetti out there’: can Cityfibre take on BT? August 22, 2024 The UK’s altnet industry is a tangled mess of “spaghetti” – at least, that’s how the boss of Cityfibre put it earlier this year. Altnets, or alternative networks, such as Cityfibre, Gigaclear and Community Fibre, have emerged as competitors to the UK’s broadband giants Virgin Media O2 and Openreach. Despite their smaller scale, they have [...]
BT drags down FTSE 100 after shares slump August 20, 2024 BT shares slumped five per cent in early deals this morning after it was revealed that Sky had struck a broadband deal with one of its biggest rivals. Shares in the FTSE 100 telecoms giant extended losses to trade as low as seven per cent by mid-day. The stock’s performance dragged down the wider FTSE [...]
BT shares jump after Altice sells 24.5 per cent stake in FTSE 100 giant to Bharti August 12, 2024 BT shares jumped 6.4 per cent after the market opened this morning after it emerged that its largest shareholder, Altice, had agreed to sell its stake in the business. The FTSE 100 giant’s largest shareholder agreed to sell its 24.5 per cent stake in the telecoms company to Indian conglomerate Bharti. Altice, which has struggled [...]
WPP: Ad giant names former BT boss Jansen as new chair to navigate AI challenges July 30, 2024 Advertising giant WPP has appointed the former BT boss Philip Jansen as its new chair after a long search for a steady hand to help it navigate a difficult time. The rise of AI has caused upheaval within the industry, as it must adjust to a new set of tools which can replace many of [...]