BT Group 06 Oct 05

Fighting back

BT Group (BT.A) has undergone a radical transformation in the last six years. At the height of the dot-com boom BTA was a market darling, and the frenzy surrounding the telecommunications industry propelled the shares to record levels. Management were also caught up in the fervour, embarking on an ambitious expansion strategy, which caused debt to spiral higher. However, the end of the technology bull market forced a radical

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