Feb 12, 2017
BT searches for answers to a Global problem
BT investors had a Groundhog Day moment last month, when news broke of a blow-up at BT Italia, one of the larger wings of the company's sprawling international business called Global Services. In the last financial year, the £5bn in revenue generated by Global Services was only just shy of that reported by Openreach, BT's biggest unit, and slightly more than EE, Britain's largest mobile phone company, which BT bought for £12.5bn last year. Feb 2009: BT profits plunge as it writes off £300m in Global Services contracts6. Although there have been rumours in the past that BT may look to sell the unit outright, Global Services is a business that is devilishly difficult to unpick from the rest of the group. Although BT has worked hard to reduce the bleeding at Global Services, it has not moved to team up with continental rivals with similar assets - such as Deutsche Telekom's T-Systems or Orange Business Services in France - despite both companies being shareholders in the British telecoms company.
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