BT sees $470M global services charge

BT will not announce quarterly results until Feb. 12, but the U.K. telco already is saying it faces a charge against earnings of about $470 million in connection with the company's suddenly struggling BT Global Services unit. The telco has been conducting a review of the global services division, which last year seemed to be a key component for BT's future success, as large telcos around the world began to look beyond their own borders for new revenue and growth opportunities. The key problem now appears not to be revenue, but profitability from previously negotiated service contracts. The division's chief executive was replaced late last year.

For more:
- The Associated Press filed this report

Related articles
BT recently defended the progress of its IPTV service
BT has been in the midst of major job cuts