BT plans to save £100mln through merger

BT Group PLC announced plans to combine its Global Enterprise and Global units into a single, B2B unit called BT Business. This move will result in cost savings of at most £100mln before the end of fiscal 2025.

BT Business will be a B2B-focused telecoms and technology company that in 2022 generated pro forma revenues of around £8.5bn and EBITDA of over £2bn.

BT stated that the combined unit would increase value for all of our B2B customers and strengthen our competitive position. It will also deliver material synergies.

The FTSE 100-listed telco stated that the move would enable it to create and deliver market-leading products for its B2B customers, create a single interface between corporate customers and public sector institutions, and save money.

This would be accomplished by consolidating and rationalizing management teams, support functions and product portfolios. It will also form part of the group’s plans to achieve £3bn annually in savings.

Bas Burger, the current CEO of BT Global’s BT Business unit, will lead BT Business.

Philip Jansen, chief executive of BT, stated that BT Business would combine the assets, products and brands of both units to serve all of its 1.2 million business customers, who will enjoy faster innovation and delivery.

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.