It's a fair bet that executives at BT and Cable & Wireless Worldwide won't be rushing to Top Shop or Bhs to put their cash into Sir Philip Green's coffers.
The retail entrepreneur's report into Whitehall waste, published yesterday, identified spending on fixed line telecoms as the best example of where the government fails to leverage its buying power. Sir Philip said departments buy telecoms services from various suppliers, spending more than £2bn a year. This could be cut by 30%-40% if the government bought its own capacity, and Sir Philip has requested an urgent review into the cost.
This has helped send BT down 3.7p to 143.2p, making it the biggest faller in the FTSE 100 at the moment, while CWW is down 2p at 73.8p.
