Kieran Smith

Liberty Global to slash jobs and sell private jet in restructuring [FREE TO READ] Telecoms group offers voluntary redundancy to 800 staff and plans to offload Dassault Falcon aircraft

SCOOP: Liberty Global has offered voluntary redundancy to over a third of its direct employees and plans to sell one of its two private jets, in an escalation of long running restructuring efforts at the telecoms group built by “cable cowboy” John Malone.

on.ft.com/4ocM3hF

SCOOP: BT Group are set to appoint Virgin Media O2 Patricia Cobian to replace Simon Lowth as the company’s new CFO.

More in Financial Times Due Diligence newsletter tomorrow.

CityFibre closes in on £2.3bn refinancing [FREE TO READ] Altnet set to secure £500mn equity from shareholders including Goldman Sachs and almost £1.8bn fresh debt

SCOOP: CityFibre is set to announce its long-awaited £2.3bn refinancing later today or Monday, in a crucial move for the UK's third largest broadband network.

More here free: on.ft.com/44qHWGT

The surprising success story of British fibre broadband [FREE TO READ] Ofcom’s decision to boost competition in the sector is credited with driving the rollout of a faster, more reliable internet connection

NEW: The surprising success story of British fibre broadband — the FT takes a deep dive into how the U.K. went from laggard to leader in providing faster and more reliable internet services to millions of households.

W/ Alan Smith

Free here: on.ft.com/4kBX5tS

‘No honour among thieves’: M&S hacking group starts turf war [FREE TO READ] A clash between rival criminal ransomware groups could result in corporate victims being extorted twice, cyber experts warn

🚨: DragonForce, the ransomware group linked to the recent cyber attacks M&S, Harrods and the Co-Op has begun a turf war with its rivals.

Experts say the move could trigger a battle within the industry that could bring more hacks and further fallout for corporate victims…

on.ft.com/4l7Cb6K ‘

Tony Blair’s staff took part in ‘Gaza Riviera’ project with BCG Former UK prime minister’s institute participated in meetings on plan to turn shattered enclave into trading hub

NEW: Tony Blair's staff took part in a BCG project for the redevelopment of Gaza along the lines of the 'Trump Riviera' plan www.ft.com/content/0b1b...

Bumble chief criticises staff for ‘freaking out’ over London job cuts [FREE TO READ] CEO Whitney Wolfe Herd warns ‘dating apps are feeling like a thing of the past’

EXC: The CEO of dating app Bumble has criticised staff in London for "freaking out" after she cut 30% of jobs at the company.

Whitney Wolfe Herd said the "centre of gravity" was now the US, as that was "where the talent pool is right now."

w/ @costasmourselas.bsky.social

on.ft.com/4khBM0g

BT chief eyes deeper job cuts as AI becomes more powerful [FREE TO READ] Allison Kirkby says telecoms group could be ‘even smaller’ by 2030

🚨NEW: The boss of BT has said that advances in AI could mean more job cuts at the company beyond the 40k already announced, while opening the door to a possible future spin-off of Openreach.

FREE HERE: on.ft.com/4kBwf5G

UK government ‘anxious’ altnets could collapse, Liberty Global boss says [FREE TO READ] Mike Fries claims business secretary Jonathan Reynolds wants big telecoms companies to rescue struggling altnets

The CEO of Liberty Global has claimed business secretary Jonathan Reynolds is “anxious” for large telecoms companies to buy the UK’s struggling “altnet” broadband providers over fears many could collapse and leave customers without internet…

More here:

on.ft.com/4jLfeVu

BT’s Openreach threatens to block new TalkTalk customers over unpaid bills [FREE TO READ] UK’s largest broadband network is turning the screw over the struggling telecoms provider’s failure to pay on time

EXC: BT’s Openreach has threatened to block new TalkTalk customers in an escalating dispute over unpaid bills.

The UK’s largest broadband provider issued the warning this week, which could derail the struggling telecoms operator’s turnaround efforts.

on.ft.com/445qYNV

TalkTalk late paying suppliers because of cash flow woes [FREE TO READ] Broadband group misses several bill deadlines despite recent refinancing

NEW: TalkTalk has been late making payments worth millions of pounds to its suppliers, including Openreach and CityFibre, as the company struggles with cash flow issues.

This comes just months after sharesholders injected a further £235mn into the company.

on.ft.com/4jtor4z

Vodafone pledges £1.5bn UK network investment this year Chief executive Margherita Della Valle details investment plans ahead of company’s merger with rival Three

NEW: Vodafone has pledged £1.5bn towards improving its UK mobile network this year upon the completion of the merger with Three.

However, the company's 2025 results were dampened by its German operation, which shed over 50% of its TV customers last year.

www.ft.com/content/ab9c...

Kemi Badenoch E @KemiBadenoch Follow 12 years access to British waters is three times longer than the govt wanted. We're becoming a rule-taker from Brussels once again. And with no details on any cap or time limits on Youth Mobility, fears of free movement returning will only increase. This is very concerning.

carp-ing from the sidelines

BT nears deal to sell TNT Sports stake to Warner Bros Discovery [FREE TO READ] Deal could be announced as early as next week that would bring telecoms group’s involvement in sports rights to a close

EXC: BT’s involvement in TNT Sports is set to be no more…

A deal to sell the company’s remaining 50% stake to Warner Bros is set to close as soon as next week, putting an end to the telecoms giant’s decade-long experiment in sports broadcasting.

W/ @danielthomasldn.bsky.social

on.ft.com/4mlkJws

BT to carve out new ‘international’ unit as group refocuses on UK [FREE TO READ] FTSE 100 telecoms company considers potential sale of non-UK operations

NEW: BT to carve out new ‘international’ unit with over 8,000 staff as the company refocuses on it’s U.K. operations.

The company is open to a deal for its international wing, whether that be a sale or a tie-up with another operator.

on.ft.com/3GQnmGD

Great to speak on the FT News Briefing about Doordash’s deal to buy UK food delivery company Deliveroo this morning.

Listen here!

t.co/KRlvvLDrQC

TalkTalk sheds customers as indebted telecoms group battles altnets Sales and profits decline at UK broadband provider as it faces intensifying competition

EXC: TalkTalk shed over 400,000 customers last year as the heavily indebted company battled the rise of alternative broadband providers.

Story here: on.ft.com/4k5kgwC

BT agrees deal to sell remainder of its Italian business [FREE TO READ] UK telecoms group enters preliminary agreement to sell stake in BT Italia to Retelit

SCOOP: BT has agreed a deal to sell the remainder of its Italian business to local provider Retelit, as CEO Allison Kirkby continues to refocus the company on its UK operations.

Read free here: on.ft.com/4jnxJjz

European telecom groups line up deals in hope of looser merger rules Executives believe new competition chief and bloc’s push for growth will lead to change

European telecom groups line up deals in hope of looser merger rules.

One veteran telecoms M&A lawyer said that: “Once the commission green lights one major deal, we’ll see a wave of consolidation.”

With @kieranjsmith.bsky.social

www.ft.com/content/0834...

NEW: A top Trump official has told Europe its time to choose between US or Chinese communications tech.

FCC Chair Brendan Carr told those concerned about signing deals with Elon Musk’s Starlink to “wait for the CCP alternative, then you’ll be really worried.”

on.ft.com/42J1gOt

UK start-ups consider switch to US as funding falls to post-pandemic low [FREE TO READ] Leading British tech groups explore moving headquarters in effort to tap deep-pocketed American investors

NEW: UK start-ups are increasingly considering switching their headquarters to US in a search for growth as funding for British businesses falls to a post-pandemic low.

Experts warn the U.K. could lose its brightest talent if more isn’t done to encourage them to stay.

on.ft.com/3GiRh9S

Sky reiterates commitment to CityFibre deal in boost to £1.5bn fundraising [FREE TO READ] Lenders to the UK’s largest altnet seek reassurance over broadband partnership announced last year

EXC: Sky has reiterated its commitment to use CityFibre’s network for some of its 5.7 million broadband customers.

The broadcaster met CityFibre’s lenders last week as they sought reassurances over Sky’s plans before deciding whether to give the “altnet” £1.5bn in extra financing.
on.ft.com/3G9g1Bk

Altnet consolidation picks up as G.Network renews push for sale [FREE TO READ] Broadband challenger tasked advisers last week with seeking potential buyers

NEW: UK altnet consolidation is picking up as G.Network - who cover 400k homes in London - renews efforts to find a buyer.

This follows CityFibre’s deal to buy Connexin last week, with fibre providers searching for scale as they try and compete with BT.

enterprise-sharing.ft.com/redeem/c9595...

Elbows up, Canada.

UK regulator says plan for competitive broadband market by 2031 on track [FREE TO READ] Rising impact of rival networks may see Ofcom lifting restrictions on BT’s Openreach

The U.K. could have near 100% full fibre coverage by 2027, with providers deregulated next decade, Ofcom networks chief Natalie Black tells me.

Ofcom has announced its latest review of the broadband market - something Black hopes will give investors confidence in the U.K.

⬇️⬇️

on.ft.com/4bRF9IT

Indian billionaire Mittal weighs up increasing his BT stake [FREE TO READ] Bharti founder has privately suggested he could expand his position in UK telecoms group

EXC: Indian billionaire Sunil Mittal is open to increasing his 24.5% stake in BT Group.

Sources tell me that the telecom tycoon - who is already BT’s largest shareholder - views the stake as a long term investment and one where he is keen to be hands on.

on.ft.com/42ba8fw

European telcos find growth elsewhere as Brussels mulls deregulation [FREE TO READ] Vodafone and Orange seek scale in emerging markets as continental growth stalls

European telecoms giants are finding growth elsewhere as Brussels mulls calls to allow more mergers in the sector.

The CEOs of Vodafone and Orange spoke to me at #MWC2025 about how emerging markets are serving as “growth engines” while Europe stagnates.

on.ft.com/3FqRyaj

Brussels announces they're opening a call for evidence this week on mergers guidelines in welcome news for telecoms companies at #MWC.

Nokia CEO Pekka Lundmark says he is “optimistic” that the new EU Commission finally recognises tech companies have seen a “tsunami” of regulations compared with US competitors.

On relocation to the U.S if Europe doesn’t move fast enough: “We’re proud to be HQ’d in Europe.”

Delighted to announce I’ve taken on a new role as a Companies Reporter at the FT over the next few months, sponsored by the Marjorie Deane foundation.

I’ll be covering telecoms, tech and comms so please do reach out for coffees/tips on Kieran.smith@ft.com