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BT Group PLC (BT.L)

BT.L on London Stock Exchange

310.80GBp
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5.65 (+1.85%)
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305.15
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Latest Key Developments (Source: Significant Developments)

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

UK's Ofcom closes investigation into BT’s price compliance
Tuesday, 10 Jan 2017 06:13am EST 

UK's Office of Communications: Closed investigation concerning BT’s compliance with its cost-orientation obligations under general condition 18.5 on Jan.4 . Found that BT’s charges to Gamma and Vodafone for APCCs from January 2015 did not comply with the requirements of GC18.5(A) .Concluded that BT should amend its charges accordingly and make repayments to Gamma and Vodafone.  Full Article

UK's Ofcom announces access to BT poles for fibre network
Tuesday, 6 Dec 2016 04:08am EST 

UK's Ofcom : Simpler, cheaper access to BT's network for competitors to lay ultrafast broadband . This would give BT's competitors flexibility to innovate as technology evolves, and respond to changes in their customers' needs . Rental charges currently linked to Openreach's costs; but explicit cap on prices could provide greater planning certainty for providers . Plans for a full-fibre future . Plans to make it quicker and easier for rival providers to build their own fibre networks direct to homes and offices using BT's existing telegraph poles and 'ducts' .Also considering changes to Openreach's rental charges for accessing its duct network.  Full Article

UK's competition watchdog outlines rules for mobile spectrum auction
Monday, 21 Nov 2016 02:17am EST 

UK's Ofcom : Outlines rules for mobile spectrum auction . Airwaves for mobile broadband to be sold in 2.3 ghz and 3.4 ghz bands . Propose to apply a cap, of 255 mhz, on "immediately useable" spectrum that any one operator can buy . As a consequence of this proposed cap, BT/EE would not be able to bid for spectrum in 2.3 ghz band . BT/EE currently holds 45 pct of immediately useable uk mobile spectrum. Vodafone holds 28 pct, O2 15 pct and three 12 pct. . Concerned that, if these immediately usable holdings were to become more unbalanced, this could harm competition in next few years . Not proposing a cap on amount of 3.4 ghz spectrum . As a result of new spectrum in market after award, BT/EE's overall share of immediately-useable spectrum will fall, from 45 pct to 42 pct .Plans to release further spectrum for mobile use.  Full Article

UK's Ofcom provisionally finds BT overcharged Sky
Monday, 26 Sep 2016 06:28am EDT 

UK's Ofcom : Published provisional conclusions on dispute between BT and Sky regarding TRC and SFI charges . Part of scope of Sky dispute directly overlaps with TalkTalk’s dispute with BT . "We provisionally conclude that BT has not demonstrated" that TRC, SFI charges were compliant with applicable cost orientation conditions . "We provisionally conclude that certain of BT’s TRC and SFI charges exceeded DSAC during the relevant period." . Provisionally conclude that BT should be required to repay Sky repayment amount with interest at BOE+1% . "We consider that responses made in relation to the Sky dispute may be relevant to the issues raised in this dispute" . Considers appropriate not to issue final determination of TalkTalk dispute until considering implications of any responses to Sky dispute . "We provisionally conclude" it appropriate, proportionate to direct bt to make repayments. . "We provisionally agree with Sky that repayment of BT’s overcharge for TRCS and SFIS during the relevant period would be appropriate" .Propose to leave it to parties to agree exact level of repayment due, based on our calculations of the difference between price and DSAC.  Full Article

Telecoms CEOs react to Ofcom's Openreach proposal
Tuesday, 26 Jul 2016 02:00am EDT 

Ceos react to Ofcom proposal: Sky ceo says Openreach proposal is a step in the right direction, falls short of the option that would guarantee world-class coverage . Sky ceo says we are encouraged by Ofcom’s stated commitment and willingness to use its powers to hold BT’s feet to the fire . TalkTalk ceo says Ofcom proposal for openreach a step in the right direction - BBC radio . TalkTalk ceo says concerned that BT will still be able to game the new regulatory system . TalkTalk Ceo says want to see how much profit the openreach division is making . BT ceo says Ofcom proposal is a sensible way forward - BBC Radio . BT ceo says should not necessarily have restrictions on how the Openreach dividend is paid Further company coverage: [SKYB.L] (London newsroom) ((uk.online@reuters.com; 0207 542 7717;)).  Full Article

UK's CMA says BT, TalkTalk to pay CMA’s costs related to appeal
Wednesday, 20 Jul 2016 07:03am EDT 

UK's CMA (Competition and Markets Authority): UK's CMA says TalkTalk shall pay CMA’s costs in relation to TalkTalk appeal in the sum of 112,333 stg .UK's CMA says BT shall pay CMA’s costs in relation to BT appeal in the sum of 572,897 stg.  Full Article

S&P - U.K.-based telecom BT Group rating raised to 'BBB+'; 'A-2' short-term rating affirmed; outlook stable
Tuesday, 5 Jul 2016 12:23pm EDT 

: U.K.-based telecom BT Group rating raised to 'BBB+'; 'A-2' short-term rating affirmed; outlook stable . S&P On Bt Group - Successful acquisition of mobile operator EE Ltd. Significantly strengthens its business risk profile . S&P On Bt Group - Anticipate steadily robust operating performance and consistently strong FOCF after pension recovery contributions Source - http://bit.ly/29nTbVf (Bengaluru Newsroom; +1 646 223 8780).  Full Article

BRIEF-UK's Ofcom says to closely monitor BT's compliance with new commitments

* Announced how openreach will be held to account, as it becomes legally separate from BT, to ensure it delivers for phone and broadband users