BT shares surge on possible sale of £20bn stake in Openreach May 15, 2020 BT’s share price jumped in early trading today following reports the telco is preparing to sell a £20bn stake in its fibre rollout arm Openreach. The telecom giant’s shares, which have been trading at a record low this year, rocketed 9.25 per cent to 111.6p on a Financial Times report that discussions were underway. BT [...]
BT scraps dividend as Covid-19 and full-fibre rollout hit profit May 7, 2020 BT today scrapped its dividend as the coronavirus crisis and full-fibre broadband costs weighed on profit. The telecoms giant said it had taken the “exceptionally difficult” decision to suspend the payout until 2022, when it will be reduced 50 per cent to 7.7p per share. It came as BT posted a two per cent dip [...]
BT gives staff pay rise as chief executive donates salary April 6, 2020 BT has handed out a share bonus to all staff and pledged not to cut jobs during the coronavirus crisis as the telecoms giant faces a surge in demand for its services. Each of BT’s 100,000 employees will be awarded £500 in shares in June, while thousands of non-managerial staff will be given a 1.5 [...]
Broadband firms to remove data caps during coronavirus crisis March 29, 2020 All UK broadband firms have agreed to remove data allowance caps during the coronavirus crisis under a new deal struck with the government. Internet service providers and mobile operators including BT/EE, Openreach, Virgin Media, Sky, O2 and Vodafone have agreed to a number of measures, effective immediately, designed to ensure all Brits have access to [...]
BT offloads £80m legal software arm Tikit as sell-off continues March 25, 2020 BT today said it has sold its legal software division Tikit as the telecom giant’s transformation plan picks up pace. Tikit, which provides lawyers with software for time recording and case management, has been acquired by UK software firm Advanced. Financial details were not disclosed, but the business is reportedly valued at £80m. The sale [...]
BT in talks to sell French business to Computacenter March 24, 2020 BT today said it is in exclusive discussions to sell its French business to British IT services and consulting firm Computacenter. The telecoms giant’s French division, which manages and maintains IT and network infrastructure, pulled in revenue of roughly £104m last year. The companies did not disclose the value of the deal. The move marks [...]
Sir Ian Cheshire to join BT as non-executive director March 15, 2020 Former head of department store Debenhams Sir Ian Cheshire is on the brink of being named as a non-executive director at telecoms giant BT. Sky News reported that Sir Ian’s appointment could be announced as early as this week, in a boardroom coup for Britain’s largest telecoms firm. Sir Ian, who currently chairs Barclays’ UK [...]
Mobile networks reach compromise over rural mast-sharing plans March 8, 2020 The UK’s mobile networks have signed off on a deal to banish so-called signal not spots in rural areas, despite squabbling over how to split the costs of the venture. Chancellor Rishi Sunak is set to unveil the £1bn agreement in the Budget on Wednesday as part of a plan to improve 4G coverage across [...]
BT ‘to slash executive pensions’ in pay shake up March 6, 2020 BT is reportedly set to cut its top executives’ pension allowances and link their bonuses to sustainability targets, as part of an executive pay shakeup by the telecoms giant. BT has started the latest phase of a shareholder consultation including a proposal to slash chief executive Philip Jansen’s maximum remuneration package from £8.3m to £5.6m, [...]
Global signs outdoor advertising deal with BT March 4, 2020 Media group Global today said it has inked a deal with BT to operate outdoor advertising on the telecoms giant’s street furniture across the UK. The new three-year deal covers print and digital advertising across the network, which includes 17,500 traditional telephone boxed, 500 payphone and 500 digital street units. The agreement will also cover [...]