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BT Announces Change to Its New York Stock Exchange Stock Symbol
LONDON, Nov. 15 /PRNewswire-FirstCall/ -- BT Group plc announced that from today (Monday, November 15) its ticker symbol for the New York Stock Exchange listed American Depository Receipts (ADRs) has changed to BT (formerly BTY).
BT's chief executive, Ben Verwaayen will mark the occasion today by ringing the closing bell at the New York Stock Exchange. He is in New York to brief analysts on BT's half year results. BT's results of the second quarter showed the biggest increase in quarterly turnover for nearly three years (up to 4.6 billion pounds Sterling). Profit before tax, goodwill amortisation and exceptional items was up four per cent at 549 million pounds in Quarter 2 and the interim dividend increased by 22 per cent.
Last week BT agreed to acquire (subject to Infonet's shareholders approval and regulatory clearances) the US-based (El Segundo, California) Infonet, one of the world's leading providers of international managed voice and data network service. This will significantly enhance BT's position in key markets including North America and Asia Pacific
The USA represents a significant growth market for ICT services and many of BT's strategic partners are headquartered in the USA. BT has had a presence in the USA since 1988 and has approximately 2,000 employees based there. Before joining BT Ben Verwaayen was formerly vice chairman of the management board of Lucent Technologies in the USA. Prior to joining Lucent he worked for KPN in the Netherlands.
About BT
BT is one of the world's leading providers of communications solutions serving customers in Europe, the Americas and Asia Pacific. Its principal activities include IT and networking services, local, national and international telecommunications services, and higher-value broadband and internet products and services.
BT consists principally of three lines of business:
* BT Retail, providing fixed and mobile communications services and
solutions and IT and networking services to more than 20 million
business and residential customers in the UK. It is also a leading UK
internet services provider.
* BT Wholesale, providing network services and solutions within the UK to
more than 600 fixed and mobile operators and service providers
including the provision of broadband, private circuits.
* BT Global Services, providing IT and networking services
internationally to meet the needs of multi-site organisations with
European operations. BT Global Services operates in more than 130
countries and also offers international carrier services.
In the year ended 31 March 2004, BT Group's turnover was 18,519 million pounds with profit before goodwill amortisation, exceptional items and taxation of 2,013 million pounds.
BT Group plc is listed on stock exchanges in London and New York. British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and encompasses virtually all businesses and assets of the BT Group.
For more information, visit http://www.bt.com/aboutbt
BT Group plc
CONTACT: Eileen Connolly, +1-908-410-1419, Diane Noe, +1-703-755-6215
Web site: http://www.bt.com/aboutbt
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