Oftel orders BT to open more local exchanges to its rivals

Article Abstract:

British Telecom must accelerate the opening of its most popular exchanges to competing operators, according to telecoms regulator Oftel. A statement released by Oftel indicates the likely reasons for the unexpectedly low take-up for the first phase of local-loop unbundling.

United Kingdom, Government regulation, Laws, regulations and rules

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Colt secures 400m pounds sterling injection from Fidelity

Article Abstract:

Investment group Fidelity is to invest between 200 million pounds sterling and 400 million pounds sterling of cash in Colt Telecom, which it founded and in which it still holds a 47.7% stake. Under the deal, this stake will rise to between 54% and 72.7%. Colt will make an open offer of 649.4 million shares at 62p each.

Investments, Securities, Fidelity, Colt Telecommunications

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BT cuts 1,000 jobs and takes 1.2bn pounds sterling hit as Concert is scrapped

Article Abstract:

Concert, British Telecommunications' struggling joint venture with AT&T, is to be unwound. This will lead to the loss of between 800 and 1,000 jobs in the UK and costs of 1.2 billion pounds sterling. In total, Concert's workforce of workforce of 6,300 will be cut by around 2,300.

Management, T, AT and T Corp., Concert PLC

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