BT share price: Company achieves 95 percent fibre broadband coverage in Cornwall

on Jul 3, 2015
Updated: Oct 21, 2019
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BT Group Plc (LON:BT.A) announced today that it had achieved 95-percent of fibre broadband coverage in Cornwall and the Isles of Scilly, under a “pioneering” programme funded by the EU, BT and Cornwall Council. The programme, called Superfast Cornwall, was launched five years ago after BT signed a £132m deal with Cornwall County Council and the EU to deliver broadband across the region.

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BT noted that the original plan was to cover 80 percent of premises in the region, but it was able to go far beyond that target and created “one of the best-connected rural economies for fibre broadband in the world”. The telecoms giant cited independent research by Plymouth University and Buckman Associates, which estimated that the roll-out of fibre broadband had brought a significant economic benefit, valued at £186 million, to the region.
“The research estimates that more than 12,000 Cornish companies are connected to the high-speed network, resulting in 2000 new jobs being created and a further 2,500 safeguarded,” BT boasted in a press release.
Ranulf Scarbrough, Superfast Cornwall Director for BT, commented: “We’re very proud of the work BT has done and will continue to do in Cornwall. The region became a template for us to follow in other rural areas of the UK where connecting people to broadband can be extremely challenging.”
In today’s trading, BT shares were 0.6 percent lower at 453.60p, as of 15:16 BST. The stock has risen nearly 13 percent since the start of the year and the company’s market capitalisation currently stands at £37.8 billion.
The 19 analysts offering 12 month price targets for BT have a median target of 518.00p, with a high estimate of 600.00p and a low of 355.00p.
As of 15:54 BST, Friday, 03 July, BT Group plc share price is 454.00p.

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