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As you sit on the phone to your ISP's customer service line, listening to half-baked excuses for why you've only got 0.5Mbps upload speed and why you "need" to upgrade to "superfast" fibre optic, it may be little comfort to know that in an alternate reality you'd already have it as standard.
In 1990, a single decision by then-Prime Minister Margaret Thatcher had a devastating effect on the UK's broadband deals infrastructure for the next 20 years and for the foreseeable future.
In a little known story about the UK's broadband history, Dr Peter Cochrane, former Chief Technology Officer at BT and all round tech guru, tells TechRadar how the UK lost the broadband race way back in the 90s.
The story actually begins in the 70s when Dr Cochrane was working as BT's Chief Technology Officer, a position he'd climbed up to from engineer some years earlier.
Dr Cochrane knew that Britain's tired copper network was insufficient: "In 1974 it was patently obvious that copper wire was unsuitable for digital communication in any form, and it could not afford the capacity we needed for the future."
He was asked to do a report on the UK's future of digital communication and what was needed to move forward.
"In 1979 I presented my results," he tells us, "and the conclusion was to forget about copper and get into fibre. So BT started a massive effort - that spanned in six years - involving thousands of people to both digitise the network and to put fibre everywhere. The country had more fibre per capita than any other nation.
"In 1986, I managed to get fibre to the home cheaper than copper and we started a programme where we built factories for manufacturing the system. By 1990, we had two factories, one in Ipswich and one in Birmingham, where were manufacturing components for systems to roll out to the local loop".
At that time, the UK, Japan and the United States were leading the way in fibre optic technology and roll-out. Indeed, the first wide area fibre optic network was set up in Hastings, UK. But, in 1990, then Prime Minister, Margaret Thatcher, decided that BT's rapid and extensive rollout of fibre optic broadband was anti-competitive and held a monopoly on a technology and service that no other telecom company could do.
"Unfortunately, the Thatcher government decided that it wanted the American cable companies providing the same service to increase competition. So the decision was made to close down the local loop roll out and in 1991 that roll out was stopped. The two factories that BT had built to build fibre related components were sold to Fujitsu and HP, the assets were stripped and the expertise was shipped out to South East Asia.
( Part One continues) > > >
No doubt BT & others are already looking to see if they can design and use O-RAN based technology to upgrade existing Huawei 4G sites to 5G. I notice that Huawei isn't part of the O-RAN Alliance, whereas Ericsson & Nokia are. I also notice that within the operator membership, China Telecom and China Unicom are listed. It doesn't bode well for Huawei.
"Fact is BT had never manufactured it's own equipment."
C3PO is correct in what he says. BT was involved in issuing specifications and certifying equipment for network equipment's, but never manufactured. BT still appear to have the capability to design to their own specifications.
"Asked if BT typically develops these kinds of radio technologies in-house, McRae said that ideally, the company would not do it, but the supply chain in the space is very challenged."
"The O-RAN Alliance is creating open APIs so operators can mix and match radios or write their own software for a radio. Sachin Katti, a professor at Stanford University and co-chair of the O-RAN"
“ While you encourage others - your circumstances are worlds apart from most of the clapped out mugs on this board.
I don’t encourage I just report facts based on either research or personal knowledge. I have had shares in BT that have fallen in value in the past, but, that never bothered because I knew in time it would rise. And given time it did and will again. When that happens I suspect you will no longer be posting on BT but will have found another place to tell all that there investment in XYZ is rubbish and why they should listen to your opinion on why they have made such a bad choice.
A few stories going around on twitter that BT are starting a project to re-claim miles / millions of pounds worth of copper as they switch to fibre Optics.........Is there any truth in this claim as Copper is going to be one of the rarest / most expensive commodities...
Yes GEC included tonight.
Fact is BT had never manufactured it's own equipment. Siemens 16 strowger crossbar system x axe10 foreign manufacture or GEC Plessey. BT only ever took part in the R&D. GEC and Plessey lost there manufacturing ability long ago so we are dependant on USA and China for our kit. Nokia still manufacture but not sure if they are competitive .
Not everyone bought in at 65-75p like you. The Perspective is very different when you’ve bought in at £3-5
I liken it to someone whose living in a penthouse on a flood plain who recommends others should buy basement apartments in the same block.
Even at £2 you’d need the SP to double just to break even. Whichever way you care to spin it BT has been a catastrophic investment over the past few years. On top of that the dividend dog has lost its dividend.
And it’s compounded misery for shareholders. Ties their money up - a good opportunity comes along - but they can’t take it because all their money’s wrapped up in BT. Hold and suffer. Hold and lose. Hold and sit on the bench watching real opportunities pass by.
There’re a lot of stocks out there
But none worse performing than BT in the ftse 100
And that’s a fact!
And it’s also a fact that people lose money when they invest in the markets worst performing shares.
A lot of the BT disciples on this board are in denial -validating each other’s erroneous opinions - don’t have the intelligence to admit they were wrong - ill disposed for trading.
But this doesn’t apply to you because you bought in at the basement - you’re the exception on this board
While you encourage others - your circumstances are worlds apart from most of the clapped out mugs on this board.
dsc1978 - Going to try and show why BT can never do that because we shot ourselves in the foot from a disastrous decision by Margret Thatcher back in the day. Do you know by 1986 via BT we had more fibre than any other nation on earth?
We were world leaders!
The story actually begins in the 70s when a Dr Cochrane was working as BT's Chief Technology Officer, he found a way to build and install fibre cheaper than copper! And did so by achieving that record of installing more fibre back in the day beyond that of any other country in the world at the time. If his work had not been scuppered by politicians it would be BT that would be installing 5G to the rest of the world today, not the other way round.
Was clearing out these old files to make room. So your post is timely for me to dump them here in reply to you.
So will post some large posts on here tonight where I will type out the full story as the links are some half a dozen years old, and may dissappear - so want to have it readable direct from here so that all interested in BT who ask that same question as you, can copy the info to their own files. If you're British, what you will read will make you weep.
There are times in our country's history when we are our own worst enemy.
Tonight then. It'll be a big read though, but you have to read it. HAVE TO! It's mandatory reading for all with holdings in BT. (Unless you out there are aware and are au fait with how we came to the current situation.
PS. I'm just the messenger not au fait myself with technological engineering issues.
BP. They are doing there part for care in the community. You have to look out for the vulnerable.
I find it staggering that BT don't get involved in the manufacturing of 5g equipment. Why are we relying on Chinese companies to supply it all?
They must live such sad lives. It's really very thoughtful of you to humour them.
Toff &Jones, you know what. You are right... I am going to contact the BOD requesting that they stop right now, tonight at midnight. I will insist that they shut the company down, switch everything off and put the cat out. Then tomorrow morning you will be downing your champagne knowing that you were right all along...
Oh, but that will also mean that the whole country has also shut down, switched it all off and put the cat’s out. You can sit there in your darkened room,with absolutely nothing, no phone, internet, radio, tv, no shops open, no lorry’s delivering, the power and gas off, also the water, no plains flying as no radar information, still at least you will have the comfort of being correct all the time. Until it just stoped...
bought at 111p. can wait. not bothered if it goes half, will double.
better than buying at £3.
Toff..., what you say is 100% right, but you will not be able to convince any of the bag holders at this board.
I think the vast majority of bag holders here just have been abused that much over the last years that they now suffer under a severe form of Stockholm syndrome.
So they will defend the company that has wiped out 80% of shareholder value within the last 5 years alone.
Somehow funny, this is why im still like to return and post on this board even if im not invested anymore.
Toff..... "If you go back to when BT was £3 the tune was exactly the same as it is now - BT is incredibly cheap - no brainer - bla bla bla And it’s basically the same morons who bought in at £4 or £5 who are trying to drag others into their catastrophic investment."
Forgive me if I'm wrong Toff, are you including yourself in that category of purchasing BT a lot higher than the current share price, only to bailout around 135p ? If so you also must have thought that BT were good value at your purchase price? It's an easy game in hindsight Toff.
yes, plenty news to come.
i dont think covid has imoacted too much of BT.
btw, i like the way scaremongering morons reply to my messages. all i see is Boooo, skip and post again. cant really be bothered to read shiiiiiiit garbage form these morons who think they are some experts.
QUARTERLY RESULTS END OF JULY
5G DECISIONS ON GOVERNMENT SUPPORT
THE LIST GOES ON
SAUDI ARABIAN FUND TR1
BT effectively dismantled its IT and services business to refocus on its core network business around 5 years ago, and paid a lot of skilled people to leave the business. Its IT skills are now internally facing and limited, with development mostly being off-shored to India, and managed fairly badly. It talks about 'Cloud', but has no cloud capabilities, with its own cloud compute offer failing badly through poor strategy and under-investment. EE management have generally been over-promoted within Company, but are effectively commodity sales people and are now driving commodity sales strategies based on mobile minutes and network bandwidth. There's no chance it will return to being a credible IR services provider.
The more intelligent among us do our research, ensure we give a factual Input, provide constructive counter views backed by facts not fiction, ensure we give correct data not misleading snippets to support a counter view. If you are going to state it make sure it is as correct as you can make it Instead of picking some pice of info out of the pile in front of you...
"So for EV to be £44bn with tonight's MCap at £11bn then my guess is it's either a report that's several months old, when the SP was much higher. Or if the report is current then the journo has used old figures."
Hi Velo, it is an old report and the share price was higher at the time it was written. BT was in no worse shape when that was written, the only difference is the market forcing the price down. For better, or worse, i'm in this stock until it either goes to nothing, or starts to climb again to previous levels. Just because the market slaps a value of £10 Billion on BT doesn't mean it's worth that, the reality is that BT's assets are worth far more. At some point the market will have to recognise the value. As far as dividends are concerned, i'm not bothered if they restart them in 2022. I'm now focused on 2025/26 when the FTTP and 5G investment will be well baked in and the true value of Telecom assets are realised. People forget that BT was around 80p in 2009 and it then climbed to around £5 in 2015. I'll just wait this out and wait for BT to climb to what I consider fair value, probably above £4.
“avoid some scaremongering morons in ere as i said before.”
The more intelligent among us would argue that the morons are those who have continually ramped this share for years on end during its precipitous plunge from £5.
If you go back to when BT was £3 the tune was exactly the same as it is now - BT is incredibly cheap - no brainer - bla bla bla
And it’s basically the same morons who bought in at £4 or £5 who are trying to drag others into their catastrophic investment.
One born every minute - show me any share in terminal decline/meltdown and I’ll show you a bunch of mugs who buy and hold all the way down to ZERO.
I’m quite happy to receive abuse of people of their ilk because they count for nothing. And as I’ve said before - they don’t need me to remind them how bad their investment has performed- the BT shareprice does that for me everyday.
Was just about to post this late last night, to an earlier thread in the day, when I saw the yellow new posts strap line; so read first in case there were posts that duplicated or negated the content of this post and found instead it was 'that' troll that lives under the hump backed bridge who had been disturbed by some passing Billy goats. So postponed, and posting it today instead.
" Indeed, the total Enterprise value for BT is assumed to be around £44 Billion, or 4 times the current Market Cap. "
- Far too high Fleccy.
Jansen would have had to stash away half again in net debt, for £44bn to be correct.
(Is that £44bn taken from an older media report when the SP was much higher, I wonder?)
All Enterprise value is - is the Mcap plus Net Debt and that's it more or less. Tonight the MCap for BT (with the SP at 109.5p) lies at £11bn.
The total Enterprise value therefore is given as £30bn (£30.2bn)
Deduct one from the other and you can see circa £19bn has been added to the MCap. The Net Debt showing on my screen for the year just ended is showing as £19.2bn.
Therefore, £30bn is the true, actual Enterprise Value as of tonight's close.
(Three figures for net debt were shown in the finals - that £19bn, as well as £17bn (which got quoted by Jansen and everywhere in the media) and £11bn.
My stuff is locked on to £19.2bn which the system was forecasting all year more or less (£19.6bn).
Here's the accepted textbook definition quote of how Enterprise Value is calculated:
" Enterprise Value (EV) represents Market Capitalisation plus Net Debt, and is a truer reflection of the actual size of a company than Market Cap. More specifically Net Debt includes Total Debt, Minority Interest and Preferred Stock minus Cash and Short Term Investments. "
So for EV to be £44bn with tonight's MCap at £11bn then my guess is it's either a report that's several months old, when the SP was much higher. Or if the report is current then the journo has used old figures.
Only explanation I can think of, for them quoting £44bn for EV.