BT strategy: Crisis management

A crisis is a good opportunity to take painful decisions. That is what BT’s newish chief executive Ian Livingston should do when be presents what are expected to be horrendous annual results later this week. BT is really a £7.2bn market-cap telecoms operator attached to a £30bn pension fund. Its £11bn net debt makes it Europe’s most indebted telco. BT’s traditional fixed-line business is in structural decline and the group’s attempt to generate growth through its Global Services networking cons...