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General

BT pension deficit reaches more than GBP 12 billion

Sunday 3 July 2016 | 15:34 CET | News
BT Group's pension deficit has widened by up to GBP 1.6 billion over the last few weeks, largely as a result of the Brexit vote, reports The Telegraph. Analysts at investment bank Macquarie believe the company's pension deficit has increased to more than GBP 12 billion, up from a deficit of GBP 7 billion in 2014, with investors concerned that BT could cut its dividend payments to meet the shortfall. Macquarie estimates that BT could halve its current growth rate of 10 percent, and says that it would have to boost its deficit payments to GBP 1 billion a year until 2030 to plug the new deficit.

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Categories: General
Companies: BT / Macquarie
Countries: United Kingdom
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