
Alibaba to Spin Off Cainiao Logistics Unit for Hong Kong IPO
September 27, 2023: Chinese e-commerce company Alibaba said Tuesday that it would spin off its logistics arm, Cainiao Smart Logistics…
August 2, 2023: On Monday, Britain’s mobile and broadband supplier selected Allison Kirkby to observe Philip Jansen as chief executive, stating the control would occur toward the end of January 2024.
Kirkby has previously served as president and CEO of Swedish telecoms provider Telia, with experience at Virgin Media and Denmark’s TDC. She has been a member of the BT Group committee for the past four years.
“I’m fully supportive of our strategy and am excited about leading it into its next development phase as we grow to support customers, shareholders, and the U.K. economy,” Kirkby told.
Jansen earlier this month announced he would step down from his role within the following 12 months. He will remain on hand to support the handover until March 2024 before retiring, BT said on Monday.
His estate includes BT’s motivation to build a national fiber network, offering discounted wholesale fiber pricing to major broadband providers in business for moving customers to the grid. U.K. telecoms regulator Ofcom in May ruled that BT subsidiary Openreach’s Equinox 2 wholesale pricing plan was allowed.
“Based on the proof known to us, we don’t consider Openreach’s latest pricing discounts anti-competitive,” Ofcom said.
“Openreach is currently 44% of the way through its full fiber build, and customer demand has continued to grow with a total network take-up rate of 32%,” BT said in its quarterly revenues release for the three months to June 30. It even declared modified EBITDA up 5% to £2 billion, with a pretax profit of £536 million, up 11%.
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