What the papers say: BT pleases with buy and results

BT took the market by storm last week, confounding the critics with the purchase of global data networking organisation Infonet, followed by robust second-quarter results.

‘BT rides broadband wave to £1bn mark’ (Western Mail, 12 November). The acquisition initially generated a cautious response, but placed within the context of BT’s notable growth in ‘new-wave’ services, analysts welcomed the addition.

Ovum chief analyst Julian Hewett said: ‘A good move for BT and a good exit for Infonet’ (Ovum.co.uk, 10 November).

Rumours of a boardroom rift between BT’s Whole sale and Retail businesses were dismissed by chief executive Ben Verwaayen as ‘a debate’ (The Guardian, 12 November).

Although overall revenue returns may have appeared modest, the remarkable growth of BT’s new-wave sector left few in any doubt that BT had brought about ‘a transformation in the nature of its business’ (The Sunday Times, 14 November). BT has ‘turned a corner’, asserted the FT (12 November).

Analysis conducted by Echo Research from data supplied to PRWeek from NewsNow. www.echoresearch.com www.newsnow.co.uk

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