18 November 2008
The looming recession could delay the plans outlined by BT to deliver super-fast broadband to millions of UK homes over the next few years.
Ian Livingstone, chief executive of the company, told the Guardian that his shareholders have advised him against spending money on a fibre network during the economic downturn.
In July, BT announced details of a £1.5 billion programme that would deliver next generation broadband to ten million homes by 2012.
But Mr Livingstone signalled that the project could be hindered by the financial crisis, which has prompted shareholders to voice their concerns.
"I personally believe if it is the right thing to do as a 20-year decision it is the right thing to do. But we need to have the environment in which our shareholders feel there is a good chance of us making a return," he said.
BT recently announced that group revenue had risen by 4% in the second quarter of the financial year and 3% during the first half.
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