A new chapter in the UK’s broadband story

BT is set to invest close to £1.5bn in fibre optic cables, thus giving up to about 10 million UK households’ easy access to faster broadband. The plans chalked out aim at bringing at least 40 per cent of homes into the sphere of an ultra-fast service by the year 2012.

BT is planning to put fibre-optic cable into roughly 1 million homes, aiming to make the service even faster and attractive for those customers. But the communications group has clarified that it will make the move, provided regulator Ofcom lets it get a decent return on the huge investment. Remaining customers are likely to be offered broadband speeds ranging between 40 and 60 megabits per second (mbps), it stated.

In order to provide funds for the project BT has stated that it is likely to suspend its £2.5bn share buy-back schedule.

BT chief executive, Ian Livingston, stated.

Broadband has greatly boosted the UK economy; it is now an essential part of our customers’ lives. We now wish to make a step-change in broadband provision that will offer faster speeds than ever before. This will mark the beginning of a new chapter in Britain’s broadband story.

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