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Do you believe that? Guess we may find out tomorrow morning as to where this is going...As for blocking him buying more share prehaps he already has them in the bag....Or a joint bid with DT? Wish i had crystal ball....
"A few days strike could take a year to recoup and stealth vengeance from the Management could be costly in terms and conditions."
Bigger pay rises across the board might be recouped by reducing promotional pay rises, and opportunities. The younger workers, and apprentices/trainee's, could be adversly affected if the management decide to allter grade structures, increasing the responsibilities of the lower grades thereby reducing promotional opportunities, etc, etc. As far as I can tell the only one's who may benefit from a strike, are the older workers coming up to retirement, who can easily afford to strike, and will benefit from the higher pay when they draw their pensions. If I was a young worker at BT, early in my career, there's no way I'd vote to strike.
I would doubt there is much appetite for strike action given :-
A) BT / OR have given a £1500 pay rise to all
B) the lower paid staff thus get a higher percentage
The gain from striking now would be eventual pay rise - £1500 and if renegotiated cut results in a scaling down for the lower paid.
A few days strike could take a year to recoup and stealth vengeance from the Management could be costly in terms and conditions.
GLA
What's the feeling regarding BT/Openreach workers striking? Unions don't think that shareholders deserve a dividend? They should be reminded that it's our money that's invested in the company, that we own. Unions would send this country back to the 1970's if they could.
Rail workers inundate voluntary redundancy scheme – despite strikes over job cuts
https://www.telegraph.co.uk/business/2022/06/12/rail-workers-inundate-voluntary-redundancy-scheme-despite/
Very one sided manipulative propaganda given to workers at meetings ..I doubt the younger employees who have been given best pay rises can afford to strike
https://www.cwu.org/news/rallying-cry-for-openreach-members-ends-remarkable-week-of-campaigning/
https://www.cwu.org/news/you-cant-airbrush-the-truth-cwu-tells-bt-as-crass-attempt-to-silence-pay-dissent-in-birmingham-backfires/
Well said, Fleccy, my darling boy. As I've said before on here, much to the annoyance of Blue Pete (the rabid socialist), the unions are an anachronism in challenged modern times. Let them take their protests to Moscow, idiots!
Casa, you are such a rogue! Why didn't you sell up when the BT share price went up to £2.13. I think you speak with forked tongue. May the Lord Jansen be with us in our hour of need. Shalom :)
So why would he buy 18% if he thought he wasn't to get a bit if the pie, I think this is more complex and the story will indeed unfold shortly.
Handy it's not just government comms that are the issue, I posted this a few days ago;
"The security issue is fundamentally about "hybrid war" or the use of "cyber warfare" to interfere with transport, payments and the banking system, propaganda, ransomware attacks, military and government comms......future wars will not be about "boots on the ground".. or even terrestrial military hardware. The UK telecoms system has to be invulnerable to attack, or as near as we can make it."That IMV means for better or worse, under UK control.
For that reason the likelihood of a takeover of any part of BT pertaining to comms is improbable.
In today's ST an article on Drahi says "shares in Altice USA have plunged by more than 70% in the last year", costing Drahi $7bill.That IMV, means he is unlikely to seek to increase his holding here, indeed he may need to reduce it to bail out other investments. That risk and the perception of a drawn -out period of austerity in the UK, means that having begun to wind down my holdings(mostly assembled at between 110-120 a couple of years ago) here I expect to sell out finally this coming week. I am heading off to my place in France tomorrow and won't be posting much for a while, so the debate will have to rage without me!
GLA all remaining holders.
Well the BT Strike Ballot letters are due to be sent out on Wednesday, with the ballot closing on the 30th June. The Union are putting out video's on youtube, trying to generate support from members, also drumming up support by encouraging motivated members to canvas their collegues to back strike action. I notice that the CWU have turned off general comments, I wonder why?
https://www.youtube.com/watch?v=dlqHGrNCNEI
Some of the commentary is quite inflamatory, and disingenuous in my opinion; The commentary, i refer to, mentions the dividends for shareholders, with Deutsch Telekom and Patrick Drahi's percentages singled out, but no mention of the many small shareholders who may rely on dividend income to supplement their pensions.
I retired last September, on a Final salary pension. Because I officially retired half way through the year I only recieved a pay increase of just over 2%; Looking at the breakdown of my pension, the maximum pay increase I could recieve is capped at around 4.2%, with my pension from April 2006 capped at 2.5% bringing down the average overall cap of 5%. Going forward, the maximum pay increases I could expect is capped at 4.2% annually, no matter what. Massive pay increases across industry now, leading to an inflationary wage/price spiral, will eventually plunge pensioners capped at a maximum rate into poverty. It isn't just pensioners who'll suffer in a wage/price inflationary environment, anyone with a mortgage could face crippling increases in Mortgage interest rates, as the BOE raises interest rates to hold off hyperinflation. Big pay rises now, could have massive repercussions across the board, and quite rapidly too, my guess is that the BOE can raise interest rates faster than Unions can force pay rises. If the CWU succeed in achieving a 10% pay rise, every other company will be faced with similar demands. I would guess the Unions are well aware of the the economics of wage/price spirals, but how will they help the younger members seeing their mortgage repayments triple, or quadruple, as interest rates are increased to stave off inflation?
Well HMG did sell BT off with Maggie at the helm.. bless her but they stay in control of course via ofcom who fund themselves by fining BT every now and then and keep their friends at sky and talk talk sweet by kicking BT in the nuts if they try to compete. Most private companies can do as they please within the law but not BT. They have to dance to ofcom and in fact HMG s tune.
Not expecting too much on Tuesday. Reckon I can move quicker than you old thing. Enjoy your Chop Suey, sleep well
Not if Government communications over Openreach are separately channeled Ray. Think you need to move with the times, old chap. We'll see come Tuesday, or maybe a week or two later. Off out to dinner now. Nite nite
Don’t be daft Mandy. Roll out of fibre is doing very nicely thank you. This company cannot be taken over, HMG won’t allow it, especially by foreign investors. Security is sacrosanct
In my opinion, it's all been done and dusted anyway. I reckon Altice and Deutsche Telekom will make a joint bid for BT, and that the government will permit this; as long as the interests of state security are protected. This would monetise Openreach to make way for even faster national fibre rollout, leave Altnets up the proverbial creek without a paddle, give shareholders a decent return on their investments, reduce the pension liability to zero and allow engineers' to receive a larger salary increase than planned. That way, everyone's a winner, methinks and hopes :)
On Tuesday another 6 month milestone is reached and Mr Drahi May or may not have increased his holding to the point he may or may not in cahoots with other major ‘King Makers’ make a full bid for BT.
Is it right that HMG can step in and potentially block a deal in a company it sold off in 1984 even relinquishing its Golden Share some decades ago.
Is this having its cake and eating it?
Is this an affront to a free and open Market? If it sold off BT it sold off its rights to control it.
Should a bid be blocked should we the investors have rights to sue HMG for unfair practice??
Your thoughts please - and Happy Weekend.
Ares1969 .. "Another drop in SP, not sure why".
Markets dragged down by appalling inflation figures in the US.
Another drop in SP, not sure why
BT reveals monumental potential for UK undergraduates in booming global AI industry
https://newsroom.bt.com/bt-reveals-monumental-potential-for-uk-undergraduates-in-booming-global-ai-industry/
Well guess we'll find out Tuesday what his intentions are.....Could Mr Drahi have acquired more shares under the radar?
I don't see Drahi's 18% holding being an issue, unless he's accumulating more stock through third parties, or he's secretly in cahoots with other parties to stage a joint takeover.
Coronation
oh yes you are right ..I do apologise ...
Pokerchips - that is not Altice
Coronation,
This is what their page states ......
28 July 2022 Deadline for phase 1 decision (*)
1 June 2022 – 17 June 2022 Invitation to comment
31 May 2022 Launch of merger inquiry
*This date is the current statutory deadline by when the decision will be announced. If any change occurs, the information is refreshed as soon as practicable. However, the CMA cannot guarantee that the decision will be announced on or before this current deadline, as the deadline of a given case may change during the merger assessment process due to different reasons.
https://www.gov.uk/cma-cases/warner-bros-discovery-inc-slash-bt-group-plc