The U.K.'s broadcast regulator Ofcom said Thursday that it is to cut BT Group PLC's (BT.A.LN) charges for up to one million landline-only customers following a review.
The regulator said BT agreed to cut bills by seven pounds ($9.24) per month from April 2018, reducing charges by 37% from GBP18.99 to GBP11.99. Ofcom added that it has been concerned that telephone line rental prices have risen, despite wholesale costs falling.
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Ofcom also said that two-thirds of the U.K.'s 1.5 million landline-only customers are with BT; 800,000 of them will be automatically protected by the charge reduction while a further 200,000 may also be eligible.
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(END) Dow Jones Newswires
October 26, 2017 02:41 ET (06:41 GMT)