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16 November 2019 00:41

Small investors have expressed dismay over Labour proposals to nationalise the broadband business of telecoms giant BT.

Become an FT subscriber to read: Leverage our market expertise Expert insights, analysis and smart data help you cut through the noise to spot trends, risks and opportunities. Join over 300,000 Finance professionals who already subscribe to the FT. Small investors have expressed dismay over Labour proposals to nationalise the broadband business of telecoms giant BT. Leader Jeremy Corbyn has announced plans to bring the firm's broadband network into public ownership at a cost of £15bn. He promised all households would receive a free state-owned internet connection after the part-nationalisation, should the party win the upcoming General Election.

Shareholders have expressed their concern at the plans. More than 800,000 individuals have a stake in BT, many of whom purchased shares when the firm was privatised in 1984. Labour has promised to compensate investors for their holdings, but few shares offer dividends as high as BT, which currently...