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23 Jul, 2010 - BT suffers pension
setback
BT
suffered a setback today as the telecoms regulator said the company
should not be allowed to raise its wholesale charges in order to
plug their sizeable pension fund deficit.
Ofcom announced that it had seen no compelling evidence to allow BT
to include the cost of reducing its £9 billion pension
deficit in the wholesale charges it levies on rivals. The regulator
said that it will make a final decision on BT's pension-related
issues by the end of the year.
BT has the largest defined benefit scheme in the UK and is making
annual top-up payments worth £525m to reduce the deficit.
Shares in BT were down 1.4% in early morning trading in London at
139.1p.
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here.
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