BT Group to pay record £42m fine and £300m compensation

London

BT Group Plc was fined a record £42 million (S$74 million) and ordered to pay another £300 million to competitors after an investigation found the former phone monopoly failed to adequately reimburse them for service delays.

The UK communications regulator Ofcom levied the fine for a "serious breach" of rules, according to a statement late Sunday. The fine dwarfed any previous Ofcom penalty and puts another black mark on the record of chief executive officer Gavin Patterson.