Britain’s BT targets more cuts to pay for fibre build

LONDON: Britain’s BT said it would leave “no stone unturned” to find savings to maintain the pace of building its fibre network as labour and energy costs rise, increasing its capex bill and putting pressure on its cash flow.

The country’s biggest broadband and mobile operator is “building like fury” to take fibre broadband to 25 million premises by 2026 in a race with rival Virgin Media O2 and smaller alternative networks.

Chief Executive Philip Jansen said “despite higher inflation, rising energy costs and macroeconomic uncertainty, we are ploughing ahead with a once in a generation investment”.