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BT, European names pace telecom losers post-Brexit vote

Jun. 24, 2016 9:22 AM ETBT Group plc (BT) StockVOD, BT, ORAN, TEFBy: Jason Aycock, SA News Editor2 Comments
  • European names are pacing premarket losers in telecom after Great Britain's historic vote to leave the EU.
  • BT Group (NYSE:BT), the holder of longtime incumbent telecom British Telecommunications, is off 17.8% premarket, wiping more than $11B off its market value.
  • Other key players in Britain and Europe are sharply lower as well. Telefonica (NYSE:TEF) is down 16.8% premarket, easily set for its lowest price in 18 years.
  • French incumbent Orange (NYSE:ORAN) is 11.6% lower. Vodafone (NASDAQ:VOD), meanwhile, is down 8.6%.

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