There is speculation that BT could write down almost £2bn (€3.2bn) on the value of its European businesses.

British Telecom's mobile phone division BT Wireless is reported to be planning hundreds of job cuts when it demerges from its parent group.

BT Wireless, the mobile phone division of British Telecom, is planning to shed hundreds of jobs when it demerges from its parent group later this year, according to reports today.