Category: BT Group

BT Agrees to Split Off U.K. Network Unit Into Separate Entity

BT Group Plc agreed to legally split off its Openreach network division into a separate entity as demanded by Britain’s telecommunications regulator, a victory of sorts for the phone carrier’s rivals though not as complete a breakup as they had sought. Openreach will have its own staff, management, strategy and a “legal purpose to serve all of its customers equally,” the regulator, Ofcom, said in a statement Friday.

Deutsche Telekom Lowers Value of Its BT Stake by $2.3 Billion

Deutsche Telekom AG wrote down its stake in British phone carrier BT Group Plc by 2.2 billion euros and placed it in a new unit for actively managed investments led by the company’s top M&A executive. The holding, now valued at about 5.1 billion euros, is part of a group of assets that also includes the company’s Dutch unit and its German tower business.

European Stocks Hold Modest Gains Ahead of Eurozone Inflation Data

European stocks edged higher in early Thursday trading but gains were limited ahead of key Eurozone inflation data and disappointing earnings from some of the region’s biggest companies. European stocks edged higher in early Thursday trading but gains were limited ahead of key inflation data from the European Commission and disappointing earnings from some of the region’s biggest companies.

BT Board Jumps In to Purchase Stock After 21 Percent Decline

BT Group Plc directors and their relatives bought more than $700,000 of its stock Monday and Tuesday, providing a vote of confidence in the former British telecommunications monopoly one week after it suffered a 21 percent drop. The purchases, totaling more than 185,000 shares, were led by Anthony Ball, the former BSkyB chief executive officer and current BT board member, who bought 70,000 shares, and relatives of Chairman Mike Rake and audit & risk committee chairman Nick Rose, who bought 90,000 shares combined, according to a regulatory filing Tuesday.

BT Shares Plunge After Italy Writedown, Profit Warning

BT shares plunged to a three-and-a-half-year low after the company trimmed its profit guidance and cautioned that writedowns in its Italian business will be much larger than expected. BT Group plc shares plunged to a three-and-a-half-year low Tuesday after the company trimmed its profit guidance and cautioned that writedowns in its Italian business linked to accounting irregularities will be much larger than expected.

BT Pegs Italy Writedown at 530 Million, Trims Full Year Earnings Guidance

BT Group cautioned Tuesday that writedowns in its Italian business linked to accounting irregularities will be much larger than expected and could exceed 530 million. BT Group plc cautioned Tuesday that writedowns in its Italian business linked to accounting irregularities will be much larger than expected and trimmed its earnings guidance for the current fiscal year.