UK's Labour Party has vowed to make internet free for all by nationalizing BT's broadband network if it wins the Dec. 12 general election
LONDON - Britain’s opposition Labour Party plans to nationalize BT’s broadband network to provide free internet for all if it wins power, making a radical election pledge to roll back 35 years of private ownership that caught both the company and its shareholders by surprise.
“A Labour government will make broadband free for everybody,” Labour leader Jeremy Corbyn said in a speech. “This is core infrastructure for the 21st century. I think it’s too important to be left to the corporations.” The relatively muted market reaction indicates investors do not expect Labour to win, analysts said. BT also retained the right to show UEFA Champions League soccer games, helping to support shares.
Britain's opposition Labour Party leader Jeremy Corbyn speaks on new digital infrastructure policy as part of his general election campaign in Lancaster, Britain November 15, 2019. REUTERS/Andrew Yates
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