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BT To Spend $8.7Bn On Fiber And 4G Expansion

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BT To Spend $8.7Bn On Fiber And 4G Expansion

British Telecom hopes to cover nearly 95% of the country with LTE technology by spending 6 billion pounds or approximately $8.7 billion over the next three years in network expansion. This fund will also include spending on its Openreach broadband and EE mobile business.

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“Customers want to be online wherever they are and we will be there for them. Our multi-billion pound investment plans will see both fibre and 4G reach 95% of the UK and we won’t stop there. The UK is a digital leader and our investment in ultrafast broadband will help it stay ahead,” says BT CEO Gavin Patterson.

The company had recently acquired EE for 12.5 billion pounds ($18.1 billion). EE was earlier a joint venture between Deutsche Telekom and Orange. EE has significant 4G presence in the country and its acquisition will provide BT with a solid foundation to offer innovative 4G services.

“The integration of EE is going well and we now see the opportunity to deliver more synergies than we originally expected, and at a lower cost,” Patterson said. “And we are reorganizing our business to better serve customers both in the UK and internationally.”

BT recorded a net profit of 1.14 billion pounds in its fiscal Q4 ended March 31, an increase of 11% when compared with the same time period a year ago. Revenue recorded an increase of 22% to 5.65 billion pounds. EE’s quarterly revenues totaled 1.05 billion pounds, while Openreach’s revenues grew 2% to 1.29 billion pounds. EE claims to have 30.6 million mobile customers.

BT was recently in news for starting a new business structure, which divides its business into six parts: Consumer, EE, Business and Public Sector, Global Services, Wholesale and Ventures and Openreach. The company’s Global Services unit generated maximum revenue of 1.75 billion pounds ($2.5 billion) in Q4 while its BT Consumer business recorded revenue of 1.19 billion pounds ($1.17 billion) in the quarter ending March 31.

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