BT has been fined £95 million (€117m) by Ofcom for “overcharging” rival telecoms firms for access to its network. Cable & Wireless Worldwide, BSkyB, Talk Talk, Virgin Media and Verizon are all entitled to refunds.

Ofcom said BT had overcharged these firms for “certain wholesale ethernet services” between April 2006 and March 2011 and must repay them “the full amounts”, although the exact sums for each company were kept confidential.

BT said it was “disappointed” and refuted Ofcom’s verdict and said it could still appeal the ruling.

Ofcom’s ruling said “BT has failed to demonstrate” that its charges were “cost-orientated”, adding there was a likelihood of “economic harm” to the market.

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