Russian oil magnate Vladimir Lotsadoshski has paid BT an undisclosed sum to move the Mornington Crescent telephone exchange closer to his home.
The London based billionaire was getting fed up with the speed of his broadband connection. BT had told him it was down to the distance of his house from the exchange. Having just spent £100m on his new pad overlooking Regents Park he decided it would be easier to move the exchange rather than move house.
The Mornington Crescent exchange has been moved to a derelict plot of land near Camden Market. Lotsadoshski is reported as being extremely pleased with the speeds he is now getting on his ADSL line and is now able to watch Russian soaps online in full screen mode.
Unfortunately the move has resulted in a barrage of complaints from other BT customers who are now further from the new exchange than they had been before and whose ADSL speeds have dramatically slowed down.
Apparently BT has made so much money on the deal that it could afford to lose a few customers and the BT stock price rose 10% this morning with the news. The old BT exhange has been turned into a luxury hotel.