BT has attempted to draw a line under its worst performance since the turn of decade with a restructuring of its scandal-hit international arm, the loss of 4,000 jobs and a warning over the size of its dividend next year.
But with an alleged accounting fraud still being investigated in Italy and questions over future free cash flow amid tighter regulatory scrutiny, Gavin Patterson was forced to put on a brave face following the toughest period since he took over as chief executive in 2013.
Let me be clear: this has been a challenging year. We must learn from what we found in the Italian business, says Mr Patterson, who will miss out on an annual bonus after BTs remuneration committee ruled that his total pay should be cut sharpl…
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