BT's devolution plans may well end with the demerger of its O wireless unit this December, BT executives said on Monday.
Facing a debt mountain of £30bn, chief executive Sir Peter Bonfield talked at the start of the year of "radical and unprecedented" changes to move "from a relatively centralised structure to a very decentralised structure".
The policy involved splitting the telco's retail and wholesale units, with the creation of a new networking company, NetCo, which helped attract bids from two consortia interested in buying all or part of BT's network.
BT also sold its Yell directories business and offloaded a number of overseas interests. But by yesterday, it seemed that senior management had hardened against further sales or divisions of the family silver.
The Financial Times reported that the mooted split between BT's retail and wholesale units was "no longer on the agenda", according to the units' respective chief executives Pierre Danon and Paul Reynolds, as BT's debt levels "no longer looked so desperate".
As BT launched a £15m campaign to develop services for small businesses, Danon said that BT Retail was on target to cut costs by £268m - £28m more than previously estimated.
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