BT scraps dividend, invests in fibre as rivals agree merger

Britain's biggest telecoms group BT suspended its dividend and said it would spend billions more on faster fibre broadband connections, as it prepares to meet the challenge posed by the merger of two of its biggest rivals.

It will also help fund a 12 billion pound plan to upgrade its legacy copper network to full fibre. If the conditions are right, BT said it could reach 20 million premises by the mid to late 2020s, 5 million more than it had targeted. "This was a tough decision, but although hard on shareholders, a necessary one so that we can allocate capital for value-enhancing investments," he told reporters.He said the impact of the pandemic would only become clearer as the economic consequences unfolded over the next 12 months.

"Personally, I think the industry needs consolidation so it's a sensible move," he said."It follows our strategy."

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

WTA chief says merger with ATP would not be 'acquisition'MUMBAI: Women's Tennis Association (WTA) chief Steve Simon has said a merger with the men's ATP 'makes all the sense in the world' but that it ...
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »

Tennis: WTA chief backs Federer's ATP merger suggestionNEW YORK (AFP) - The head of the WTA Tour has voiced support for a merger with the ATP Tour following calls led by Roger Federer and Rafael Nadal to integrate the men's and women's circuits.. Read more at straitstimes.com.
Källa: The Straits Times - 🏆 8. / 63 Läs mer »

Tennis: WTA chief says merger with ATP would not be 'acquisition'Women's Tennis Association (WTA) chief Steve Simon has said a merger with the men's ATP 'makes all the sense in the world' but that it would not ...
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »