British Telecom (BT) is gearing up for a £2.5 billion share buyback programme.

British Telecom (BT) is gearing up for a ?2.5 billion share buyback programme. It is abandoning its ??8 billion net debt target, and will seek a “solid” investment-grade credit rating. The company recorded a 22 per cent increase in its annual pre-tax profit at ??2.5 billion. It also registered a 4 per cent increase in its sales to ??20.2 billion during 2006-07.