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BT earnings slide on 225m settlement with Deutsche Telekom, Orange
2017-07-28 02:00:00| Total Telecom industry news
BT's fiscal first quarter pretax proft fell 42% on last year after it paid £225 million to settle claims from shareholders Deutsche Telekom and Orange. Deutsche Telekom and Orange own 12% and 1.33% of BT respectively, having taken stakes when they sold mobile operator EE to it in 2015. Orange's stake originally stood at 4%, but it sold a chunk of it in June. Under the agreement, Deutsche Telekom and Orange were given warranty protection in the event that BT's share price took a hit. That is exactly what happened in January…read more on TotalTele.com »
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Category:Telecommunications