Menu
30/07/2001
BT faces future competition from Virgin
Sir Richard Branson is planning to take on British Telecommunications by pitting Virgin against BT in the fixed-line telephone market next year, as reported by the Independent on Sunday.
In an interview with the paper, Branson said he intends to challenge BT head-to-head by selling branded deals for home-phones, undercutting BT by buying spare capacity on the phone network.
According to the Sunday Times newspaper, beleaguered BT has also suffered another assault by a group of financiers who approached the company with an offer of £8 billion for the telecoms giant’s local-loop business. BT’s local loop has more than 5,500 exchanges connecting more than 25 million customers to the BT network.
The same paper reports that the deal, led by the US asset-finance house Babcock & Brown and a New York finance boutique called Chancery Lane was rebuffed by BT executives.
Virgin is already in the mobile phone market with its successful venture Virgin Mobile, which offers branded services using One2One network. The venture cost £80 million to set up and currently has over one million customers. The mobile arm of Virgin has grown by more than 50 per cent in the first half of the year, according to statistics from Continental Research. Meanwhile BT recorded another drop in quarterly earnings with underlying profits falling to £186 million in the three months to 30 June 2001. (AMcE)
In an interview with the paper, Branson said he intends to challenge BT head-to-head by selling branded deals for home-phones, undercutting BT by buying spare capacity on the phone network.
According to the Sunday Times newspaper, beleaguered BT has also suffered another assault by a group of financiers who approached the company with an offer of £8 billion for the telecoms giant’s local-loop business. BT’s local loop has more than 5,500 exchanges connecting more than 25 million customers to the BT network.
The same paper reports that the deal, led by the US asset-finance house Babcock & Brown and a New York finance boutique called Chancery Lane was rebuffed by BT executives.
Virgin is already in the mobile phone market with its successful venture Virgin Mobile, which offers branded services using One2One network. The venture cost £80 million to set up and currently has over one million customers. The mobile arm of Virgin has grown by more than 50 per cent in the first half of the year, according to statistics from Continental Research. Meanwhile BT recorded another drop in quarterly earnings with underlying profits falling to £186 million in the three months to 30 June 2001. (AMcE)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
10 April 2002
BT unveils wireless plans
The British telecom giant BT has unveiled a set of new mobility initiatives that are expected to deliver additional revenues of £180 million a year by 2004/05 and could rise to £500 million a year in five years.
BT unveils wireless plans
The British telecom giant BT has unveiled a set of new mobility initiatives that are expected to deliver additional revenues of £180 million a year by 2004/05 and could rise to £500 million a year in five years.
24 August 2001
BT comes under pressure from Oftel
British Telecom (BT) has come under pressure from telecommunications regulator Oftel to improve access to its lines for rival operators. Oftel has intervened to determine the service levels that BT must offer to other operators wanting to unbundle BT local loops and the compensation the company must pay if it fails to meet those levels.
BT comes under pressure from Oftel
British Telecom (BT) has come under pressure from telecommunications regulator Oftel to improve access to its lines for rival operators. Oftel has intervened to determine the service levels that BT must offer to other operators wanting to unbundle BT local loops and the compensation the company must pay if it fails to meet those levels.
11 November 2004
New wave turnover sustains BT profits
A new wave of hi-tech turnover including broadband connections has helped BT to hold the line on profits. In its quarterly report published today, BT Group reported that turnover for the year was up 1%, at £9.2 billion. Most growth was in what BT described as "new wave" turnover that increased by 34% in the year to reach £1,969 million.
New wave turnover sustains BT profits
A new wave of hi-tech turnover including broadband connections has helped BT to hold the line on profits. In its quarterly report published today, BT Group reported that turnover for the year was up 1%, at £9.2 billion. Most growth was in what BT described as "new wave" turnover that increased by 34% in the year to reach £1,969 million.
23 October 2001
Unions brand BT demerger as “insane”
The Communication Workers Union (CWU) has mounted an eleventh hour bid to save BT from inflicting “insane” damage on the company by a demerger.
Unions brand BT demerger as “insane”
The Communication Workers Union (CWU) has mounted an eleventh hour bid to save BT from inflicting “insane” damage on the company by a demerger.
30 March 2004
Virgin Express reports 19.6m euro loss
Virgin Express has revealed a 19.6 million euro net operating loss for 2003 - which the Brussels-based airline has blamed on "heavy ticket discounting". Executive Chairman David Hoare also pointed to "challenges" resulting from the Iraq war and price cutting against rival Ryanair that saw revenue per available seat kilometre plummet 21%.
Virgin Express reports 19.6m euro loss
Virgin Express has revealed a 19.6 million euro net operating loss for 2003 - which the Brussels-based airline has blamed on "heavy ticket discounting". Executive Chairman David Hoare also pointed to "challenges" resulting from the Iraq war and price cutting against rival Ryanair that saw revenue per available seat kilometre plummet 21%.
-
Northern Ireland WeatherThis Evening and Tonight:Dry in the southeast at first otherwise widespread light rain or drizzle for most. It will turn mostly dry towards dawn, although a few patches of light rain or drizzle continuing, mainly in the southwest. Minimum temperature 5 °C.
