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BT has spent a huge amount of money on a TV/web advertising campaign that turns out to be misjudged and potentially offensive. Sure they have apologised, but shoddy communication does not help their reputation or indeed their share price.
I'm waiting for 160's.
Avrohom,
Are you buying at 175p? almost there now!
H-hi,
Is it not time to change the record.
Sharon White is now leaving OFCOM. BT is now on record as welcoming OFCOMS new approach to encourage and reward new investment.
As we cant really blame OFCOM or the government anymore and we desperately need to find another scapegoat to blame. Maybe we should start blaming the wife or the mother in law.
Lamtree,
I told guys here that Ofcom is the main problem here not Corbyn. Boris as we know will say anything but how can he get the telecos investing when the regulators don’t want them to make a reasonable return on investment.
Poker - yes I like the idea of that, I’m sure BT could use some of that DNA.
How ever when it comes to these examples BT is in a different market place. For a start those new on demand tv producers in the main compete in English, whereas non English speaking areas might find it easier to get a foot hold & the U.K. is the home of sky sports, BT in my opinion would damage itself failing to take on sky head on, on its own, which is the reason why I’d like to have seen a partnership with Apple for instance or amazon.
Fleccy
Fever Tree up 6.5% today...you should have gone for the Tonic Water story !!
Aus3009,
Is BT Tv taking on Netflix or Amazon Prime TV ? .....Telefonica Movistar is....They make their own TV series and shows in the same way as Netflix does and offers a "similar" looking product anad have taken the football coverage over as the leader
They dont mess about....they plan,decide and execute....
" BT won’t replace revenue losses by playing safe. IMO"
BT is a cost cutting play in my opinion, it's been a massive employer and is still suffering some legacy problems around that, but modern telecommunications equipment's are becoming more reliable and requiring less on site engineer involvement.
Most installations are done by approved third party contractors, so in house installation is going the way of the dinosaur.
My view is that BT's revenue will decline, but bottom line profit will increase over time. Even though BT/Openreach have to allow third party access to poles and ducts, they stil own that infrastructure and wholesale users will have to pay up for using them, with less margin for BT, but still making a profit. ust my opinion, but I believe that BT will make massive cost savings, once 5G and FTTP is complete.
I agree poker, same is true of our country, others have increased dept but now have better infrastructure, trains, roads etc. Maybe BT got caught up with the U.K. austerity drive.... I don’t know? Some times BT does get it right, but then don’t drive home the advantage, they seem to sit back. BT sport for example is excellent, I think almost leading the way with its production, whereas Bt tv, I feel that fell behind a bit, where as there might have been an opportunity to lead a tv revelation rather than trying to compete with set top boxes. Sky’s NOW tv has now started to fill that promise. I read couple of years ago BT could have partnered with Apple TV .... I notice (I think it was) Switzerland incumbent has partnered with them. I’d just like to see some risk taking like that, because BT won’t replace revenue losses by playing safe. IMO
I think BT could recover...look at Glaxo....it was also struggling with its SP and after a new CEO has made a number of decisions and balance sheet changes and board member changes etc ...and now.....up 40-50% on that low period...over a 2 year or so period
..
"The side issue here is BT always seem too slow to find other revenue options"
yeah, too slow....Telefonica and BT is like comparing a cheetah and an elephant ( a bit exaggerated)
Telefonica were starting quad play before BT had even ever heard of it and they are now well into providing services as part of the Internet of Things (IoT) - quintuple-play and invested enormously during the financial crisis years of 2008-2012 to get ahead
BT of course has Internet of Things - https://www.iot.bt.com/ but I dont think they are as advanced with it as Telefonica
I would suspect that the City is pushing BT with a stick on its ass( via the held back SP) to keep up and get their 3 year transition dealt with ... and become more agile and progressive with the changes and demands that lie ahead
A lot is expected of a behemoth the size of BT , increasing your financial debt whilst revenues and profits are stagnant is not seen as a Premier League achievement...the City wants better I suspect
For big beasts like BT and Shell producing dividends and ticking over with profits arent seen as enough ....they are challenged with being the best in the sector and leading, rather than following
Obviously internal governance issues which allowed the Italy fiasco & regulatory fines didn’t help.
BT is in decline because their core business is under attack from competition & because the technology & services they provide are in transition.
The side issue here is BT always seem too slow to find other revenue options, the TV & sport I think was a good attempt to find revenue streams into the future, but BT was too slow developing IP tv options & app across every platform, same was true about Alexa type smart speakers, these could easily have been smart home phones.
BT needs to find replacements for the revenue that it’s loosing from core activities, it’s simple as that.
The question, is will this be fibre & 5G? I have doubts because the value or the price of these is already being forced down by competition
I have always wanted to see BT partner some of these industry leaders, for example BT sport why can’t that production team be doing football for Amazon? & so on
Who is to blame for BT's demise and its gross under valuation.?
Lets first establish that it has nothing to do with poor management as we replaced the management and sacked the whole workforce after the Italian fiasco.
So lets be rational and decide who is to blame
Corbyn? Boris? OFCOM? Capitalists? Socialists? Communists? Brexit? Institutional investors? DT? Market Makers? FBI, CIA and Mossad? Meghan? immigrants ? Jews? Eastern Europeans? Chinese? Arabs? Trump?.
Have I forgot anyone.
Toff.
My bad. I remember reading the price was 3 hundred and something pennies, I thought shareholders were then offered 4 hundred and something pennies. Or did the price rise to this level before it was delisted? If it did, I would have definitely sold on the news.
"A few individuals will make billions
And tens of thousands of people will lose their jobs, livelihoods and pay the consequences of their GREED. "
GKN isn't a company I've followed, but I agree with the sentiment of your post. Generally dodgy stuff goes on behind the scenes, handshake deals and people make money down the road, by following a script. Generally the board of a company would have to collude to make this sort of thing happen and I look on at certain events unfolding in other companies and wonder if the similar situations have been engineered. I believe there are tell tale signs and opportunities to get out if you think this sort of event is unfolding.
Aw
“Toff, GKN shareholders got a decent price didnt they?”
Are you kidding.
250p is all they got. I saw the shares trade at 350+ over the years.
Only 52 percent of shareholders voted to approve the deal to destroy the company. - that number sounds dangerously familiar to me :)
GKN was an amalgamation of several engineering companies- great business
You can bet what’s going to happen in the near future.
The vultures that took it over will asset strip it, load it up with debt and re-float it off in segments on the market. Just like they did with
BHS
Debenhams
Woolworths
A few individuals will make billions
And tens of thousands of people will lose their jobs, livelihoods and pay the consequences of their GREED.
Forget about judicial sentences, human scum that destroys companies should be executed. That’s what they do to them in China.
GKN currently listed at 482p off-market
Toff
"I expect BT will go the same way as GKN and get sold off to asset strippers for peanuts."
Ok, this scenario is extremely unlikely and would need a few things to happen beforehand,
Cable & Wireless is a good example of such a scenario and there are opportunities on route. Cable & Wireless split into two, forming CWW and CWC Cable & Wireless Worldwide was Europe Asia and the Middle East, whereas Cable & Wireless Communications was the Caribbean, isle of Man and Channel Islands and Monaco. CWW was run by Chairman John Pluthero, some referred to him as John Plundero and Jim Marsh as CEO. When the split happened CWW went up to around 90p and CWC was around 60/70p, if I remember rightly. CWW soon started dropping and after profit warnings Marsh soon resigned, followed by Pluthero. Out of the blue Gavin Darby appeared, as CEO, from Vodafone and within 12 months Vodafone took over CWW, by scheme of arrangement for 38p a share, CWC was eventually taken over by Liberty Global for around 70p I think.
The point is, BT isn't struggling, it isn't issuing profit warnings and for a similar scenario to unfold, BT would have to split into parts first. The signal would likely be Openreach splitting off, but that would also be an opportunity to gel out, as the share prices would likely be inflated immediately following the split.
This is all hypothetical and highly unlikely, but since Toff made his statement, I thought C&W would be a good example to point out.
BT is also worth far more than the current valuation, EE alone is worth over £12 billion. A hostile takeover would likely push the shares up to around £5 a share.
what is the bloody reason for the sell off today? is it because China got a virus? Did BT investors caught the virus too? Absolutely ridiculous for the sell off...£28M sold vs £13M buys.
Better wait and see how low this can go before topping up again.
AW
I remember trading BT for the first time in 2003 for 198p
Where are we today 17 years later
178p
Since then they’ve acquired EE foe almost £13 billion
So that 178p values both businesses.
It doesn’t take a great genius to fathom out BT’s valuation Isa subject of market maker abuse and fraud.
When the Italian scandal you mention broke, the missing sum was £500 million. BT shareprice fell £6 billion in a single day.
Sure I know BT has issues as we’re all aware of, but as with the Italian scandal the MMs price any bad news in TWELVE times and wax rich doing it. Every time a dividend is declared they subtract 2-3 times the amount of the share price.
There’s got to be a better way than relying of these parasites to trade and values company’s share. They need to be brought to book.
And then there’s the flip side of the coin, when they value companies at obscene valuations. Fever Tree being a case in point -reached a market capital value of about £5.5 billion. What? For a company that makes tonic water. But to name one example. You wouldn’t even get that in a third world market
My advice to anyone who wants to be a career criminal is to go and work at a brokerage arm responsible for valuing shares on the UK market.
Toff, GKN shareholders got a decent price didnt they?
Bif of both. Ofcom were vultures in 2015 when the share price was almost 500p. BT are undervalued which will have something to do with the market makers but in 2015, we didn't have the Brexit threat and the Italian scandal hadn't been unearthed. So it's not a surprise to see the price where it is, everyone will just have to be patient. Also, when the price hit just shy of 500p, I could be wrong, but I believe the EE deal had just been done.
There’s no other market in the world where BT would be valued for chump change. The problem here isn’t the company, it’s the coke snorting scum who are responsible for valuing the shares. Market makers need to be circulated, not just left for years on end, to form cartels and manipulate a company’s share price, as is happening with BT.
I did say the best deal for shareholders would be part nationalization, since the election it’s tumbled another ten percent. Relatively healthy companies never used to get abused like this before the financial crisis. What a pity we don’t have EU regulation in the UK to stop MMs robbing shareholders.
I expect BT will go the same way as GKN and get sold off to asset strippers for peanuts. Then it will get systematically destroyed by human vultures who will pocket billions at the cost of tens of thousands of jobs. And all because we have a market that can’t value shares fairly.
Only in the UK
Toff