UPDATE 6-UK's Labour plans to nationalise BT's network in free broadband plan [Reuters]
Liberty Global Ltd. - Class A Common Shares (LBTYA)
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Source: Reuters
UK's Labour plans to nationalize BT's network in free broadband plan LONDON (Reuters) - Britain’s opposition Labour Party plans to nationalize BT’s broadband network to provide free internet for all, a radical election pledge to roll back 35 years of private ownership that caught both the company and its shareholders by surprise. Labour said its proposed overhaul of Britain’s telecoms infrastructure would be paid for by raising taxes on tech firms such as Alphabet’s Google, Amazon and Facebook and using its Green Transformation fund. The addition of BT to Labour’s nationalization plan sent the group’s shares down as much as 3.7%, wiping nearly half a billion pounds off its market value. But analysts said that the share price reaction was relatively muted as investors do not expect Labour to win the Dec. 12 election. BT also retained the right to show UEFA Champions League soccer games, helping to support shares. Labour said it would nationalize Openreach - the fixed-line network arm o
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Sec Filings
- 4/17/24 - Form 4
- 4/15/24 - Form 144
- 4/9/24 - Form 8-K
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