MARKET TALK: BT Shares Soars After Strike Ballot Cancelled

6th Jul 2010 14:04

1304 GMT [Dow Jones] BT Group (BT.A.LN) shares +3.3% at 130p after the likelihood of industrial action next week was averted. After the close of trade in London Monday, the Communication Workers Union announced that it had canceled a ballot of its BT members to strike on legal advice, and that it would take up the offer by the telecom company for talks. "I remain of the view that BT's ability to restructure its costs - the largest of which is staff - is better than many of its peers. I would expect talks to restart in earnest as the union refiles the strike paperwork," Liberum Capital analyst Mark James says. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 06, 2010 09:04 ET (13:04 GMT)