BT shares slump on Sky's broadband deal with rival
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Dow Jones
By Steve Goldstein
Shares of BT Group slumped on Tuesday after Sky reached what it called a long-term partnership with rival CityFibre for wholesale broadband services in the U.K.
The deal will see Comcast-owned (CMCSA) Sky launch broadband services on the CityFibre network starting next year, the companies said.
BT shares (UK:BT.A) slumped 5% in early trade. The stock is still up about 12% this year.
CityFibre already has major customers including Vodafone and TalkTalk.
-Steve Goldstein
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08-20-24 0421ET
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