BT Shares Dive as Italian Accounting Scandal Deepens
U.K. telecom operator BT said a bigger-than-expected $661 million write-down related to an accounting scandal at its Italian business will weigh down on earnings for the next two years.
LONDON—The parent company of British Telecommunications, one of Britain’s oldest and best-known companies, lost a fifth of its value Tuesday after saying it had grossly underestimated the severity of an accounting scandal at its Italian business.
BT Group PLC said it was taking a write-down of £530 million ($66
LONDON—The parent company of British Telecommunications, one of Britain’s oldest and best-known companies, lost a fifth of its value Tuesday after saying it had grossly underestimated the severity of an accounting scandal at its Italian business.
BT Group PLC said it was taking a write-down of £530 million ($66