BT confirms £12 billion full-fibre broadband investment, following Ofcom ruling
BT has confirmed plans to spend £12 billion rolling out full-fibre broadband to 20 million homes in the UK no later than the end of the decade, following the publication of new rules by Ofcom.
A long-awaited decision by the regulator will allow BT to secure the returns on investment bosses had been hoping for and provide clarity over pricing for the next 10 years, the company added.
Officials at BT hoped the £12 billion investment would allow them to make a profit margin of 12% and, although Ofcom did not specify a percentage, the company said the rules would allow the rollout to begin.
Philip Jansen chief executive of BT, said:
“This is good news for all fibre providers in the UK. For us, it is the green light we’ve been waiting for to get on and build like fury.
“Full-fibre broadband will be the foundation of a strong BT for decades to come and a shot in the arm for the UK as we build back better from this pandemic.”
“Measures to encourage commercial investment, as well as competition to ensure consumer choice in these more reliable networks is good news, as the pandemic has highlighted that people are more reliant than ever on a good internet connection.