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T chief Philip Jansen today welcomed the telecommunications giant from above speed the Internetspeaking Openreach arm “continues to build like a rage”, now reaching 7.2 million rooms.

Jansen wants to increase the speed at which the so-called FTTP – high-speed fiber to the room broadband access – rolled out, from 3 million to 4 million rooms a year.

This should help fulfill Boris Johnsona promise to get fast internet to every home in the UK, albeit a little behind the 2025 deadline.

Today, BT resumed its dividends for the full year to a share of 7.7 for the year, returning to the level of Covid, a move that will calm the city.

Revenue for the year fell 2% to £ 20.8 billion and revenue rose 9% to £ 1.96 billion.

BT has completed legal work to establish a 50/50 joint venture with Warner Bros Discovery Arm. This should immediately improve the content on BT Sport and make the business stronger by bidding for content in the future, such as the rights to the Champions League.

BT may sell its half of Discovery later or not. He also signed a long-term agreement with Sky to share content, the latest sign that the two former deadly rivals are increasingly diverging.

As for the cost of living crisis, Jansen is concerned.

“We are very conscious of the environment in which we work. Inflation is very alarming,” he said.

Prices for BT are likely to rise by £ 35 this year, which compares to an increase in electricity bills of £ 1,500, but may still force some to opt for cheaper rather than faster internet connections.

Jansen insists the BT internet still costs less than £ 1 a day.

The price of BT shares rose by 7 to 184 pence today. French tycoon Patrick Drachi increased his stake from 12% to 18% in December.

This has sparked talk of an takeover bid, but it is more likely that he considers BT shares undervalued.

The government would probably block such a deal anyway.

Dan Reedsdale of the Edison Group said: “BT has been the focus of attention recently, with widespread speculation about the impact of inflation concerns and shareholder intentions of Patrick Drach. Today’s announcement of a joint venture with Warner Bros. Discovery, which brings together BT Sport and Eurosport UK, will make a new focus for investors and consumers. In the midst of the cost of living crisis, this expanded offering will serve BT well, and customers will begin looking for ways to cut costs and possibly cut streaming services. «

https://www.standard.co.uk/business/bt-boss-pledge-faster-internet-speeds-fttp-b999542.html

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