Italian accounting scandal plunges BT into turmoil

UK telco BT has admitted an accounting scandal in its Italian operation is ‘far greater than previously identified’, resulting in a share-price plunge and executive sackings.
BT had previously admitted £145 million worth of Italian book-cooking in October of last year but ahead of its latest round of quarterlies it has decided to confess that further investigations have revealed that was just the tip of the iceberg.
‘These investigations have revealed that the extent and