BT , the UK telecommunications company , saw its stock plunge by 15 % as it revealed that improper practices at its Italian unit would cost the company more than three times as much as originally predicted . BT (BT.L) lost a fifth of its market value on Tuesday when an Italian accounting scandal compounded a sudden slowdown in its British government work, forcing the telecoms group to cut forecasts for the next two years. A writedown to the business has now risen from £ 145 m in October to £ 530 m . This brings an abrupt end to the years of recovery after the 2008 financial crisis ; the company says it will now not see revenue growth for two years and can barely make profits . Even more serious over the long term is the deterioration of its core corporate and public relations operations , the report said .
BT , the UK telecommunications company , saw its stock plunge by 15 % as it revealed that improper practices at its Italian unit would cost the company more than three times as much as originally predicted . A writedown to the business has now risen from £ 145 m in October to £ 530 m . This brings an abrupt end to the years of recovery after the 2008 financial crisis ; the company says it will now not see revenue growth for two years and can barely make profits . Even more serious over the long term is the deterioration of its core corporate and public relations operations , the report said .