BT claims Labour nationalisation plan would cost up to £100bn – business live

Rolling coverage of the latest economic and financial news, including reaction to Labour’s pledge to bring BT under partial state ownership if elected

1.58pm GMT

Analysts from investment bank Jefferies say BT could launch a legal challenge if Labour attempts to nationalise part of the business.

In a nationalisation scenario, we understand that BT’s most effective legal recourse might be to defend shareholder value, not attempt to block government policy.

The UK has bilateral investment treaties with countries in which overseas BT shareholders are located, and these are intended to protect against asset expropriation.

1.36pm GMT

NEWSFLASH: US retail sales rose +0.3% in October.

That is higher than consensus forecasts for a +0.2% rise and an improvement on the -0.3% fall in September.

Continue reading…Rolling coverage of the latest economic and financial news, including reaction to Labour’s pledge to bring BT under partial state ownership if electedShadow chancellor details Openreach plansRival TalkTalk stalls sale of fibre arm amid Labour pledgeFull story: Labour pledges free broadband for all homes and firms in UK 1.58pm GMTAnalysts from investment bank Jefferies say BT could launch a legal challenge if Labour attempts to nationalise part of the business.In a nationalisation scenario, we understand that BT’s most effective legal recourse might be to defend shareholder value, not attempt to block government policy.The UK has bilateral investment treaties with countries in which overseas BT shareholders are located, and these are intended to protect against asset expropriation. 1.36pm GMTNEWSFLASH: US retail sales rose +0.3% in October. That is higher than consensus forecasts for a +0.2% rise and an improvement on the -0.3% fall in September. Continue reading…

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