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Date: Tuesday 07 Oct 2008

LONDON (ShareCast) - Telecoms giant BT has not thus far been affected by the world-wide financial crisis and does not expect to tap the corporate bond markets in the next 12 months.

Speaking at a press lunch, BT’s chief executive Ian Livingston said the group’s corporate business is doing well but the residential arm was seeing some effect from the sluggish sales of new homes. Nevertheless, BT is sticking to its 2009 broadband roll-out targets.

“It looks today that our global corporate business is still doing well, I think the recession is particularly today focused on Western consumers,” Livingston said.

Livinston said the current market turmoil could throw up acquisition opportunities, but suggested these would not be of the “blockbuster” varierty.

BT spent $105m back in July on Silicon Valley-based telephony and internet technology provider Ribbit Corporation as part of its quest to transform itself into a platform-based, software-driven services company.

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