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The ongoing economic downturn being experienced in the UK at present has put BT under pressure to reconsider its planned £1.5 billion fibre-optic broadband network.

Over ten millon British homes were scheduled to be connected to high-speed next-generation services by the year 2012, under the timeframe laid out by the telecoms giant.

Now chief executive Ian Livingston has admitted that the company must make sure its shareholders are happy over the move.

He told the Guardian: "I have to tell you there are some shareholders who say 'you know something, don't do that, don't do a whole lot of other things. That leaves you with a lot more cash and cash today is worth a lot more than cash in a few years' time'."

BT recently announced it would be cutting 10,000 jobs by April in the face of the ongoing recession.

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