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Mkt definitely taking positive. Especially the comment that they see the cost not being more than the initial gbp500m
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BT’s initial assessment of revised policy on Huawei in 5G networks
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In January, the Department for Digital, Culture, Media & Sport (“DCMS”) proposed restrictions on the use of Huawei equipment in 5G and FTTP networks.
Today they have announced a revised set of proposals to remove Huawei equipment from 5G communication networks in the UK by the end of 2027, and consult on the future use of Huawei in FTTP networks.
In light of this, BT Group plc (“BT”) announces its initial assessment of the financial impact of these revised proposals.
“BT currently estimates that full compliance with these revised proposals would require additional activity, both in removing and replacing Huawei equipment from BT’s existing mobile network, and in excluding Huawei from the 5G network that BT continues to build. However, now we have clarity on the timing, it is estimated that these costs can be absorbed within BT’s initial estimated implementation cost of £500m, as announced by BT on 30 January 2020 in order to comply with the previous proposal by the National Cyber Security Centre.”
Just wondered what's everyones reaction to latest RNS. Quite like comment by PJ, I think is positive and should reflect in SP.
Commenting on today's announcement, Philip Jansen, Chief Executive, said
"The security of our networks is an absolute priority for BT. Clearly this decision has logistical and cost implications for communications providers in the UK market - however, we believe the timescales outlined will allow us to make these changes without impacting on the coverage or resilience of our existing networks. It will also allow us to continue to rollout our 5G and full fibre networks without a significant impact on the timescales we've previously announced. Whilst we have provided our initial view on the estimated impact today, we will continue to evaluate the details of this decision thoroughly."
Millie - it will come down to price. The EU sets Minimum standards For good bought, sold and produced within their / our market place, this way every consumer / buyer knows what they are getting & everyone operating within that market has a level
Playing field, ie they can’t produce and sell things in that market which undercut other producers by producing inferior products. This means for example we can treat animals okay & farmers can charge a fair price to do that & so on. The U.K. exceeds nearly all these EU standards, so our farmers get subsides to encourage higher and higher standards consumers across Europe can benefit from. After the trade deal, American chicken with such poor animal welfare standards, so toxic it needs to be bleached before it can be safely considered by humans will be cheap. It doesn’t take a rocket scientist to work out what happens to the U.K. farmers, same for GM same for steroid beef & rat poo rice and poisonous peanut butter, etc etc etc. It makes me laugh when dishonest people sell the EU as a protection racket, protecting european producers and manufacturers. Stupid people don’t realise British people and British jobs are european producers and manufacturers.
Anyway back to BT. I still fear trade negotiations with America will involve American business. Getting unequal access to the U.K. telecoms market at a time where there’s much money to be made.... but like the early nineties when Maggie’s government tied down BT to give American CATV companies time to build & hide their domestic issues with U.K. investment depts.... same thing, history repeating.
Trouble is Aus, we in the UK are stupid enough to buy it.
If we didn't buy their c**p, then it wouldn't be sent....
M
Going large. I have to laugh at your comments about “not having big economies to trade with”. It’s almost like you think the U.K. doesn’t already trade with the big economies. They already buy what the want from us, a rubbish trade with America just means they will import nasties into the U.K. which currently they can’t. Same for Australia, same for Nee Zealand. There’s nothing in it for the U.K. only benefit Will be to the low standards awful producers now able to hick their produce into the U.K. market
It was already priced in as the government had no choice. This decision is however massive as China will retaliate by not giving us a good trade deal after Brexit. If this escalates there will be less Chinese investment in the UK. Boris only needs to upset the USA next and we will have no big economies to trade with
The market reaction does not seem too bad. Is this because the government will be picking up the bill?
https://news.sky.com/story/huawei-blocked-tech-must-be-stripped-from-uks-5g-network-by-2027-12028177#:~:text=Boris%20Johnson%20has%20ordered%20all,UK's%205G%20network%20by%202027.&text=Mr%20Johnson%20and%20senior%20ministers,Downing%20Street%20on%20Tuesday%20morning.