BT's Livingstone tops up stake

BT boss Ian Livingstone has coughed up almost £100,000 for shares in the telecoms group after Thursday's slump to their lowest since privatisation in 1984.

Livingstone paid 99.7p each for 99,500 shares, taking his stake to more than 759,000 shares, currently worth about £m.

The move comes just a day after BT reported an 81% slump in third quarter pre-tax profit following a poor performance and a £340m one-off charge at its Global Services unit.

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It said there may be further "substantial" one-off charges in the fourth quarter as a result of financial and contract reviews at the troublesome division, which provides IT services for corporate customers.

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