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BT Group PLC (BT.L)

BT.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

BT to be fined 42 mln stg for breaching contracts with telecoms providers
Sunday, 26 Mar 2017 11:04pm EDT 

UK's Office of Communications: BT to be fined 42 million stg for breaching contracts with telecoms providers . penalty is a result of an investigation by Ofcom into BT's network arm, Openreach. . UK's Ofcom says investigation finds bt cut its compensation payments for delays in connecting high-speed business lines . BT will also be fined 300,000 pounds for failing to provide information to Ofcom Source http://bit.ly/2nY7Xdv ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

UK's Ofcom says BT's Plusnet fined 880,000 pounds for billing former customers
Wednesday, 22 Mar 2017 05:23am EDT 

UK's Office of Communications: Plusnet fined £880,000 for billing former customers . Has today been fined £880,000 by ofcom for continuing to bill more than a thousand ex-customers. .Fine, which must be paid to ofcom within 20 working days, will be passed on to HM treasury..  Full Article

UK's CMA launches merger inquiry into BT-IP Trade deal
Tuesday, 7 Mar 2017 05:32am EST 

UK's Competition And Markets Authority: Says launches its merger inquiry on anticipated acquisition of IP Trade SA by BT Group Plc . Says deadline for CMA to announce its decision whether to refer the merger for a phase 2 investigation is 4 May Further company coverage: [BT.L] (Bengaluru Newsroom: +91 80 6749 1136).  Full Article

Deutsche Telekom CEO sees much potential for BT cooperation
Thursday, 2 Mar 2017 09:38am EST 

Deutsche Telekom : CEO says there is much potential for cooperation with BT . CFO says likes U.S. business, there is a standalone path Further company coverage: [DTEGn.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1270;)).  Full Article

Deutsche Telekom announces new partnership with BT
Wednesday, 1 Mar 2017 04:16am EST 

Deutsche Telekom AG : Says announces new partnership with BT . Says new partnership with BT is second step in cooperation with BT .Says new partnership will give it access to many BT network services.  Full Article

UK's Ofcom says plans to cut BT landline bills by at least 5 pounds/month
Tuesday, 28 Feb 2017 02:30am EST 

UK's Ofcom : BT's landline-only customers set for cheaper bills . Ofcom plans to cut bills by at least £5 a month for BT customers that have only a landline . Expect that proposed cut in BT's prices would lead to other providers following suit and reducing theirs (Bengaluru Newsroom: +91 80 6749 1136).  Full Article

UK's CMA investigating BT Group, IP Trade deal
Friday, 24 Feb 2017 07:38am EST 

UK's Competition and Markets Authority: Investigating the anticipated acquisition by BT Group Plc, through its subsidiary BT (Netherlands) Holding BV, of IP Trade S.A .Considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation.  Full Article

BT says shareholders have right to be unhappy, but situation under control
Friday, 27 Jan 2017 02:53am EST 

Bt : Ceo says shareholders have right to be unhappy, but situation under control . Ceo says bt remains in good health overalll . Ceo says remains "very confident" about strategy, but headwinds in public sector, intl corporate . Cfo says italian operation is now completely under control . Cfo says "handful of people" were involved in italian scandal . Ceo says need to keep italy, public-sector slowdown in context, accounts for total 10 percent of business . Ceo says "too early" to make decisions about future of auditor pwc . Ceo says audit committee were misled over italy, as were management . Ceo says issue of his pay is "for another day" Further company coverage: [BT.L] (Reporting By London Bureau) ((uk.online@reuters.com; +44 20 7542 7717;)).  Full Article

BT CEO says Italy probably unprofitable for a number of years
Tuesday, 24 Jan 2017 04:00am EST 

Bt : Ceo says SME market and mid market performing well, well placed even if the UK sees tightening of growth . Ceo says we do not think an issue like the Italian improper accounting exists in any other market . Cfo says we remain confident in the overall prospects of the business . Cfo says other businesses remain firmly on track, confidence behind the dividend . Ceo says Italian business has probably been unprofitable for a number of years . Ceo says do believe global services is important to the bt group . Ceo says think Italy can be a growth business, will need a lot of work . Cfo says authorities may wish to consider wider implications of bt's italian accounting scandal . Cfo says too early to comment on the broader tax implications of italian accounting, although we have considered those in our finances .Ceo says investment in content have proven to be successful, we are not losing confidence in that strategy.  Full Article

BT Group updates on investigation into Italian business
Tuesday, 24 Jan 2017 02:06am EST 

Bt Group Plc : Update on investigation into BT's italian business and on BT group outlook . BT previously announced on 27 october 2016 that an initial internal investigation of accounting practices in its italian business had identified certain historical accounting errors . These investigations have revealed that extent and complexity of inappropriate behaviour in italian business were far greater than previously identified . Adjustments identified have increased from £145m announced in our half-year update to a total of around £530m. . Expect matters described above to result in a reduction in our q3 adjusted revenue and adjusted ebitda of around £120m, . Improper behaviour in our Italian business is an extremely serious matter .We suspended a number of bt italy's senior management team who have now left business..  Full Article

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