COLT refuses to back down in pay row...

16 Apr 2003

COLT Telecom, the alternative telecoms service provider which has operations in the UK and mainland Europe, says it will not change the terms of its executive pay scheme or consider the re-election of some of its directors, despite scathing criticism from shareholder advisor group the National Association of Pension Funds (NAPF). The NAPF has recommended that shareholders abstain in a vote on remuneration on the grounds it considers the deal ‘below the standards’ of a large UK company.