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I doubt BT will get a way without paying nothing, and will settle to paying something half way - although, would be incredible if they Win - as that should move the SP above 120p-130p mark - otherwise this is going back to sub 110, or dare I say 100p mark.
I concur - 1.2bn fine is a kick in anyones Cojones. It will likely speed up BT’s head count if they lose, and increase customer’s telephone bill to cover the cost….oh wait this is what the case is about lol!
Going to be interesting to see how BT play this one.
GLA.
Legal battleToday 00:34
How do these cases usually play out?
Is it a done deal Bt are due to refund 1.2bn
Will they get off without paying anything?
Or is it a case of meeting in the middle and we are due to pay out 600m?
1.2bn would be disaster
I usually agree with Fleccy including divi reinvestment , capex reduction, etc.
However can’t say I agree a 1.2bn fine wouldn’t hurt. The £500m Italian scandal was a car crash in slow motion and at a better point in time for our finances. It had more damage in the following years than the £500m fine alone would suggest.
1.2bn and during more difficult times while we try to get the fibre in the ground and capex down, would be a disaster.
Further undiscerning analysis from Fleccy
£1.3bln fine is a walk in the park for BT. No problem at all, I assume he would welcome it, a chance to top up & something, something dividends I suspect
I doubt there is a company any where in the world who could manage a fine like that without negatively impacting their business, let alone one with a struggling reputation and £20Bln in dept.
Political analysis equally questionable, having set fire to common decency, political accountability & reputation with a leave vote, his solution would be to invite the real loons to have a go, the reform party….. based on things like woke culture wars, which of course are aimed at a certain kind of …. citizen. The fake patriot type , inclined to protect Churchills statue whilst waving swastikas, that kind. Or ones who think small numbers of people on boats are responsible for national shortages in health care and education. Rather than a government under funding everything, or that a government should break international laws to fix an immigration problem they created & never existed before they under funded everything.
Good grief. .
I've got a BT landline, from memory I was informed it was needed with my broadband deal?- I've not used a landline in years calls, I don't even know what my landline number is - so looking forward to getting some money back from BT.
"any view BT is heading for years of strong profit growth (once the pension deficit recovery payments and major CAPEX programme complete) is likely to be misplaced."
Fat even if BT had to cough up the whole £1.3 Billion, it'd hurt in the short term but long term it would just be a blip. The FTTP and 5G rollouts are pulling around £5 Billion in capex out of the business per year, any payout due to this class action will be meaningless over time as the capex bill reduces. If BT do lose, it'll probably open the floodgates for the lawyers to go after every other business in the UK, the Lawyers will get richer while everyone else gets poorer.
Aus, I don't like Labour since Brown sabotaged Defined Benefit pensions, the Tories have been worse than useless and weak as dishwater and I just don't like the the woke Lib Dem policies. Since I don't like the rest I'll vote for the best lol.
Yes Pete. Leave voters and now reform.
It’s tragic, our own, equivalent to Americas maga morons. You just need to look at the people behind these parties, ridiculous to think any of them are capable.
Honestly, I’ve already said, this alone should make anyone reconsider peoples’ judgement on this board.
Honestly I stop taking any leave voter seriously.
Its your opinion although flawed!
Wow! Hope BT don’t end up in the same predicament :)
Paddy Power owner plans to quit FTSE 100 in fresh blow to London. Clearly they think they are takeover fodder even at £16 a share. Don’t blame them.
Reform??!
Yes, that nice Mr.Farage has certainly proved his credentials hasn’t he. What’s more we could benefit from the wonderful Mr.Tice, the delightful Anne Widecombe and the oh so rational kate hoey. And if things go really well we might just see a situation where they get to work with that great humanitarian and superb statesman from across the waters, Mr. Trump.
Such a suggestion would be funny if it weren’t for the fact that over the last few years much of the British public has proved dumb enough to repeatedly self-sabotage. I’m sure the younger generation can’t wait for the oldies to impose havoc on them all over again.
As I have mentioned on here several times over the years ..
any view BT is heading for years of strong profit growth (once the pension deficit recovery payments and major CAPEX programme complete) is likely to be misplaced.
Politically and regulatory considerations mean big headwinds continue long in to the future.
Https://www.reuters.com/business/media-telecom/eight-convicted-italy-over-false-accounting-bt-subsidiary-2024-01-25/
Remember the Italian job everyone , Gavin was CEO and the SP was over £5 , we were flying , shooting for the stars.
And yet again , out of the blue , disaster. The share price crashed (Mandy was ruined)
I'm getting that disaster feeling all over again
Fleccy, My thoughts are same as yours. Reform will get my vote. I have long felt the Gov is crippling the ftse. just like they have with car industry, pub industry etc.
Yes I think they will lose as its got this far but don't believe the headline payout figure.
The lawyers are after £1.3 Billion, so that's nearly 2 years worth of dividend payouts. The logical side of my brain say's that BT should easily win this, but I think they'll lose, not because they've done anything wrong but because the system is geared against them. It appears a company can't raise prices because their customers are so disengaged they can't be bothered to look around for better deals, when there are many alternatives to choose from. As far as Telecoms are concerned, I think the regulators and would agree that BT has loads of competition in the form of mobile and other CP's, no doubt the judges will disagree. The same thing's happening with Lloyds over Motor Finance, people sign on the dotted line and are apparently happy with the car financing, and then the regulators and courts decide to jump in and operate a cashback scheme; All that will happen is the feckless will be refused credit going forward and everyone else will have to pay more.
No wonder the FTSE is uninvestable, between the Government, courts and regulators, UK companies are having their profits syphoned away to inject capital into the economy, via the backdoor. After Gordon Brown I said I'd never vote Labour again, the Conservatives can join them on that list. At the next election I'm either voting reform or not at all.
That includes 2 mobiles, BT TV, broadband...etc.
Come my renewal in March (if I stay with BT) that
monthly outlay will be slashed. I'm currently paying for
a lot I don't use, or don't have time to
How many others will look to cut packages given cost of living considerations...
Any time frame given for this ambulance chasers claim to run.
At a bit over 114p
130p if they win and a buying opportunity is they lose WIN WIN
To all, what do you think the SP will be the next day if BT lose the court case, sorry to be so negative.
I was wondering why someone would want to Split-Purchase Voice and Broadband service separately, and the only thing I could think of is that many of them are Virgin Media standalone Broadband users.
" Since September 2016, Virgin Media’s line rental price has been the most expensive in the market at £19.00 per month, although this is only one penny more expensive than BT"
What I suspect is that many of the split purchase customers are well engaged and chose to take fast Broadband from Virgin Media as a standalone and keep their voice only service with BT, VM may even have increased their phone rental charge because they wanted to attract only standalone Broadband customers. If I'm right, Split Purchase customers using VM for broadband have chosen that in preference to a bundled service over Openreach and are probably the most engaged group.
Looks to me as though we're going to have another go at 111.5 and probably 110. I'm still waiting for a chance to enter long.
"Split purchase customers and refunds for overpayments
Stakeholder comments
3.18 CCP-ACOD believed that split purchase customers, not just voice-only customers, should
also be protected by BT’s voluntary commitments. It also suggested strengthening the
commitments so that consumers who overpay could be guaranteed a refund of any
overpayment.
Our response
3.19 As noted in our December 2020 consultation and 2017 review, split purchasers are
typically younger and more technologically literate than voice-only customers, and, by
definition, have internet access which allows them to access alternative offers more easily.
Unlike voice-only customers, split purchasers have a wider range of choices available to
them, such as dual play bundles.22 We also note that our new rules on end-of-contract
notifications (introduced in February 2020) will mean that customers will be advised
through those notifications that they may be able to save money by bundling their
services.23 We therefore remain of the view that it is appropriate to exclude split purchase
customers from the scope of the commitments.
3.20 On CCP’s question of refunds, these commitments are forward-looking and designed to
protect voice-only customers over the duration of the next five years."
https://www.ofcom.org.uk/__data/assets/pdf_file/0029/216569/statement-protecting-voice-only-landline-customers.pdf