16th Jun 2014 14:37
LONDON (Alliance News) - BT PLC is braced for a substantial jump in its annual pension payments following a health check of Britain's biggest private sector pension plan, the Sunday Times reported without saying where it got the information.
BT will begin a review next month that is likely to lead to a 50% jump in its pension deficit to about GBP6 billion, according to the newspaper.
The report indicated that the increased pension bill could reduce BT's fire-power in its fight with British Sky Broadcasting Group PLC over sports broadcast rights.
http://www.thesundaytimes.co.uk/sto/business/article1422519.ece
BT is the biggest faller on the FTSE 100, down 2.5% at 384.4 pence.
By Jon Darby; [email protected]; @jondarby100
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