BT's CIO was asked what his company considered as its biggest threat. Surprisingly, he answered that Google was the one BT feared the most, adding that Google probably did not mean to be a threat to BT, but that it was incidental.
The same could be said of Microsoft two decades ago when it started to become a threat to companies like Digital Research or Quarterdeck.. almost incidentally.
Google is neither content nor a communication provider. A simple analogy can be used. A glass (the carrier) filled with water (content) would be hold together by gravity (Google).
What this means is that BT is morphing into a new entity which will possibly clash with Google's ever growing portfolio.
BT, like so many telecommunication companies, has been particularly poor at promoting its own content to its own customers. This is likely to change very soon if BT's CIO is to be believed.