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HMG sold off its stake in BT a few years after privatisation at about £11 a share and then set about ensuring that BT did little more than to survive. The theory was that if BT is held at the limit of survival then prices in the industry will be minimised, helping to keep inflation down. Privatisation was just a con, selling assets that the people owned back to the people while keeping control of them but distancing themselves from any poor performance flack. Stay well away from any privatised stock.
Strange, a few months ago I thought BT`s problems were all of Gavin,s making. So now its Ofcom,s. Well I never.
Truth being its probably a bit of both but also there is a leach on BT`s back - HMG.
The only way that bt`s fortunes will improve is if it reduces its tax burden by hundreds of millions. This will make the treasury sit up and finally make HMG call off the attack dogs. If the divi is to be reduced then the tax burden must also reduce for the same reason. Don`t hold your breath though, BT`s management don`t have the plumbs.
No no no. its not non compliance, its a simple accounting mistake.
While ofcom have screwed Bt in the past (although I think they are now realising their mistake) there is NO excuse for non compliance.
Sorry the title "OFCOM again" gave the impression that you were criticising them.
I do not recall blaming OFCOM for BT Group's latest infringement of the rules laid down for leased line charges - merely signalling some news that is relevant to BT Group investors.
I was under the impression that BT had hired a regulatory expert, formally of OFWAT, to ensure that this kind of transgression did not occur in the future. Perhaps the incidents in question occurred before she was hired?
Well they have to get their wage bill paid somehow ....its quite significant you know.
Thats excluding the fine of course!
OOps we.......did it again, BT say we may have overcharged a few business customers, whats the betting it runs in to a fair chunk of coin, how much you reckon ?, I dont know how much but would take a guess at roughly more than enough money to cover a small towns electricy for a year, give or take a few 5kw 3 bar heaters.
Why are you blaming OFCOM.
"Ofcom said BT had indicated it may not have correctly applied the exemption to a number of businesses since the 2014 rules came into play.
It sounds that this was just another case of a bungling BT.
Interesting. Just had a quick dip into one of the consultation docs which seems to say as the market moves toward geographic network competition and, for example, BT has less than 2 competitors in its exchange etc, it will have to supply access to dark fibre at cost. Operators will need good GIS and postcode data. Will be very interesting to learn how 5G effects the market definitions and BTs universal access obligations.
UK regulators opened an investigation on Thursday into leased line charges handed to business customers of FTSE 100-listed telecommunications giant BT Group PLC.
Ofcom opened the probe into BT to consider whether or not the former state monopoly had "complied with its charging obligations" laid out under the Business Connectivity Market Review from the regulator in 2014.
The BCMR examined the markets for the provision of UK leased lines for high speed point-to-point data connections by telecoms providers to business customers. These are used to connect offices and access broadband networks.
Consequently, Ofcom emphasised these leased lines "are essential to support the provision of mobile, business and residential broadband services, and form the backbone of the UK's digital infrastructure."
In particular, the investigation will focus on Excess Construction Charges levied from businesses by BT. These charges are intended to recover costs faced by BT from customer-specific work that needs to be undertaken to extend the BT network out to where the customer needs a new connection.
Since the 2014 BCMR, BT has been obliged to exempt customers from the initial GBP2,800 of excess construction costs. BT was then allowed to make up for the resulting loss of revenue with a balancing charge as part of the standard connection charge across all relevant business connectivity services.
Ofcom said BT had indicated it may not have correctly applied the exemption to a number of businesses since the 2014 rules came into play.
As such, Ofcom has opened an investigation to "examine whether there are reasonable grounds to believe that BT has failed to comply with its obligations."