BT's Openreach to Cut Wholesale Services Charge

Features Dow Jones Newswires

Openreach, BT Group PLC's (BT.A.LN) infrastructure business, will reduce its wholesale high speed broadband network service charge by 1.1%, the U.K.'s communications regulator said Wednesday.

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In March, Ofcom consulted on a fair and reasonable charge of 84.38 pounds ($108.34) for the wholesale product 'MPF' at Service Maintenance Level 1 (MPF SML1), in the period prior to the introduction of new charge controls.

Ofcom said Wednesday that Openreach has now confirmed that it will reduce its charge for MPF SML1 to GBP84.38, effective from July 1.

At 0920 GMT, BT Group's shares were down 1 pence, or 0.3%, at 308 pence, valuing the company at GBP30.66 billion.

Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

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May 31, 2017 05:46 ET (09:46 GMT)