Telecoms group BT posted its best revenue growth in seven years on Monday, just days after the completion of a takeover deal which renders it’s the UK’s largest telecoms provider.
BT announced that it would undergo a restructuring to incorporate EE, creating a new division to serve businesses and the public sector. BT’s share price rose again today on the news, and is currently up 2.54 percent (0924GMT).
Chief Executive Gavin Patterson called it an “exciting time” for the group, saying that it had had a “stand out quarter, increasing its overall line base for the first time in well over a decade”.
BT’s share price also climbed on Friday after the announcement that it’s takeover of EE, the mobile service provider, had been completed. The deal was uncertain for a while after several other large telecoms groups expressed competition concerns. Whilst some predict the demise of the EE brand, for the time being BT are insistent that it will remain.
the BT group will now serve around 10 million households, providing a mixture of broadband, telephone, TV and mobile services under a variety of brands.
01/02/2016
