BT shares have been subdued for some time as investors have seen a purchase of them as a subsidy to their pension plan, that has a £4 billion shortage but following agreement with the BT Pension Fund Trustee, BT shares are up by over 5% this morning in a midly bullish market.

From a deficit of £9 billion back in 2008, they now have to find just over £4 billion to balance the pension books and intend to do so with a hefty £2 billion payment now and nine further yearly payments of £325 million to wipe the slate clean.

This removes a massive black cloud over BT and investors will evaluate them on pure performance now this has been clarified.