Feeds

New BT chief rules out network sale

No means no - apparently

  • alert
  • submit to reddit

High performance access to file storage

BT's new chief exec, Ben Verwaayen, said yesterday that the telco's network is not for sale.

Speaking at a press conference in Munich, the new broom sought to draw a line under speculation that BT might consider selling part, or all, of its UK network.

The move – just days before Mr Verwaayen officially takes up his post as the head of BT – is designed to end the uncertainty over BT's future strategy.

Mr Verwaayen said selling the company’s fixed line business made "no sense".

Last year German investment bank, West LB, offered £18 billion for BT's landline phone network. And Earthlease, a consortium led by Babcock & Brown and Chancery Lane Capital, bid £8 billion for BT's local loop, the wires that connect homes and businesses to its network.

The strong stand by BT's new boss will, no doubt, be welcomed by BT Retail's CEO, Pierre Danon.

In an interview with The Register last year he said he was "fiercely opposed" to the sale of the network and was adamant that BT had to retain control of its phone network. He said selling the network would be the "most stupid thing you can do". ®

Related Story

BT Retail chief 'fiercely opposed' to sale of local loop

High performance access to file storage

More from The Register

next story
European Court of Justice rips up Data Retention Directive
Rules 'interfering' measure to be 'invalid'
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Cisco reps flog Whiptail's Invicta arrays against EMC and Pure
Storage reseller report reveals who's selling what
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Bored with trading oil and gold? Why not flog some CLOUD servers?
Chicago Mercantile Exchange plans cloud spot exchange
Just what could be inside Dropbox's new 'Home For Life'?
Biz apps, messaging, photos, email, more storage – sorry, did you think there would be cake?
IT bods: How long does it take YOU to train up on new tech?
I'll leave my arrays to do the hard work, if you don't mind
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.