BT 'has 31bn a year warchest for takeovers'.

Byline: Tony Glover

Feb. 13--UK-based telecoms giant BT has E1bn ($1.28bn, [pounds sterling]690m) a year earmarked for company takeovers in Europe, Silicon Valley and the Far East.

In his first newspaper interview since taking the post last week, BT's finance director Hanif Lalani revealed BT's global strategy to The Business.

"BT intends to continue making acquisitions following the recent purchases of Infonet in the US and Albacom in Italy," said Lalani.

He said BT would prefer to spread its cash over different geographical areas to