BT Pledges £1.5bn to Boost Super-Fast Broadband

16 July 2008

LONDON: UK-headquartered telecoms giant BT has unveiled plans to invest £1.5 billion ($3.01bn; €1.88bn) in super-fast broadband delivery to around 10 million British households by 2012.

It expects the fibre-based network to enable top speeds of up to 100 Megabytes per second.

Declares BT ceo Ian Livingston: "Broadband has boosted the UK economy and is now an essential part of our customers' lives.

"We now want to make a step-change in broadband provision which will offer faster speeds than ever before."

BT argues the need for a supportive and enduring environment and says it will be seeking such support from communications regulator Ofcom.

In particular the removal of current barriers to investment, thus ensuring that firms investing in fibre can earn a fair return for shareholders.

To achieve the level of investment it has pledged, BT will suspend its current share buyback programme from July 31, by which time it will have returned more than £1.8bn of a planned £2.5bn.

Data sourced from multiple origins; additional content by WARC staff