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Maintenance and power in particular are big numbers. .......? Blo@@y spellchecker !
Fleccy.
"The buildings are leased from Telereal, and BT can only hand back a percentage on a rolling basis until around 2031 anyway, but decommissioning the buildings will save on maintenance, power, staff costs, etc."
You hit the nail on the head. Maintenance is and power in party are big numbers. Much will depend on lease break costs. It can often be beneficial to pay up the lease and take the savings. Hopefully BT are not commited to paying any contractual profit margins to TT for the remainder of any lease should they take the lease break option.
"As for PSTN switch off by 2025 I don't see this happening for reasons I've given previously. "
It's happening, in fact it's set in stone.
"Yes, we mean everyone. Business and home. And it’s not just your phone services you need to think about. It’s everything else that currently uses the old phone network, all your non-voice services connected to PSTN or ISDN lines. Things like alarms, EPOS machines, door entry systems, CCTV, and faxes."
https://business.bt.com/insights/digital-transformation/uk-pstn-switch-off/
"25 million FTTP completions may or may not happen by Dec 2026"
I admit the task seems impossible at the current rollout rate, but I suspect BT are currently focusing on rollout in the more difficult locations first, and may go for the easier wins later in the program. I live in Bolton, with VM offering CTV/Broadband, and CityFibre currently focusing here too; Bolton doesn't currently show up in the Openreach FTTP rollout schedule, even though the Training centre is in Bolton, and the area is well served by BT ducts.
"This is allied to the buildings footprint target, so I doubt a 2/3 reduction is going to happen."
The buildings are leased from Telereal, and BT can only hand back a percentage on a rolling basis until around 2031 anyway, but decommissioning the buildings will save on maintenance, power, staff costs, etc. Even if BT miss the target of 25 Million premises passed, you can bet they'll be a long way toward meeting the target.
"It's easy to fill a report with attractive ideas but a different thing to deliver them."
Don't see anything difficult in delivery, even if it takes a bit longer, but the direction is clear. We're all entitled to our opinions, but I disagree with your assertion that BT is directionless.
Well yes, plenty of ideas but not much in the way of results.
25 million FTTP completions may or may not happen by Dec 2026. As for PSTN switch off by 2025 I don't see this happening for reasons I've given previously. This is allied to the buildings footprint target, so I doubt a 2/3 reduction is going to happen. Selling BT Sport is a good idea and that alone will save bundles, although whether BT gets a good price or not is another matter.
It's easy to fill a report with attractive ideas but a different thing to deliver them.
The SP is stuck in yet another downward spiral and it won't recover without some concrete stimulus, and that will be the re-introduction of dividends. Perhaps the arrival of the new chairman might be the start of something better.
"Unfortunately whilst I see the positives in BT - mr market doesn't."
The drops are on really small volumes; The last big volume day for BT was the 17th September, on Quadruple Witching Day, with over 159 million trades suggesting lots of movement in the derivatives market, whatever that might indicate?
"I'll summarise sum of the points"
I have no idea what happened there lol, of course I meant "some of the points" Doh
"Will bt be broken up , EE floated , openreach floated"
Openreach is a Network management, Provisioning, and Maintenance company, that doesn't own the assets it looks after. BT own the ducts, poles, wayleaves, and all the access infrastructure; So the infrastructure assets have a rental/sale value in addition to whatever the Openreach workforce/Revenue may be valued at. How BT decides to proceed once rollout is completed is anyone's guess, but I don't see anything happening with Openreach for the next 5 years. EE is part of the move to converged networks and IOT, so BT won't let that go.
Sold out £100k. Took a £2k loss. Unfortunately whilst I see the positives in BT - mr market doesn't. Will buy in again in future. Sold all my positions - Boohoo made me a good fortune this morning so I can stomach losses. might be back around £1.30 if it gets there.
"The trouble is that BT doesn't know which direction it is going in either. It's been like this for years."
Do you actually read the BT's annual reports, and forward projections?
I'll summarise sum of the points:
25 Million FTTP passed by December 2026
PSTN switch off Dec 2025
2/3 building footprint reduction due to FTTP rollout
£2 Billion annual cost savings from 2025
EE 3G Switch off early 2023
Sell BT Sport
That's just the ones I can think of off the top of my head, they know seem to know where they're going.
The trouble is that BT doesn't know which direction it is going in either. It's been like this for years.
Pherhaps what's confusing the city on the sp price , is they do not have a clue what direction bt is going to take I.e
Will dazn buy bt sport
Will Dt make a bid
Will darhi make a bid
Will bt be broken up , EE floated , openreach floated
The list goes on