November 15, 2019 / 7:34 AM / 23 days ago

BT CEO says: Labour's plan for free broadband may cost 100 bln pounds

LONDON, Nov 15 (Reuters) - Britain's opposition Labour Party's plans to nationalise parts of telecoms provider BT's network and provide free full fibre broadband may cost more than 100 billion pounds ($127 billion), BT chief executive said.

"These are very, very ambitious ideas and the Conservative Party have their own ambitious idea for full fibre for everyone by 2025 and how we do it is not straight forward," Chief Executive Philip Jansen told the BBC.

"It needs funding, it is very big numbers, so we are talking 30 to 40 billion pounds.. and if you are giving it away over an eight year time frame it is a another 30 or 40 billion pounds. You are not short of 100 billion pounds."

$1 = 0.7815 pounds Reporting by Andrew MacAskill

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