BT Share Chat (BT.A)

This will be MS acquiring options or CFD's on behalf of a client, the obvious guess is Bharti.....

Https://www.thinkbroadband.com/news/10330-exclusive-october-2024-update-on-openreach-full-fibre-roll-out

Last paragraph is quite interesting.

Can’t be long now??

TalkTalk auditor quits after broadband provider narrowly avoids going bust

Deloitte’s resignation after 22 years reduces the chance of a takeover, analyst warns.

TalkTalk’s auditor has quit as the debt-laden broadband firm faces a fresh squeeze on its finances.

Deloitte, which has served as TalkTalk’s auditor since August 2002, has resigned from its role, according to company filings.

A spokesman for TalkTalk said the resignation was a result of a planned rotation following a break-up of the group last year. RSM has been appointed as Deloitte’s replacement.

It comes after billionaire founder Sir Charles Dunstone and other shareholders were recently forced to pump another £235m into the struggling broadband firm to stave off collapse.

While the emergency lifeline helped to avoid a debt default, the cash injection will only cover the cost of running day-to-day operations.

Meanwhile, the debt refinancing was secured at interest rates of as much as 12.8pc, meaning the company still faces punishing annual finance costs.

However, some of these payments will be pushed back to a later date after the company secured “pay if you can” clauses with its lenders.

Nevertheless, analysts have raised concerns about the company’s ability to keep servicing its debt pile, which has now risen to around £1.2bn.

TalkTalk is currently seeking a buyer for all or part of its business after bosses unveiled plans to break up the group in a bid to extract more value……

……TalkTalk is now being closely watched across the industry, with Virgin Media O2 among suitors eyeing a potential takeover.

Regulator Ofcom is also drawing up plans for a “supplier of last resort” regime in the event of a company collapse in the sector.

BT volumes really low.

My guess the Budget?

Another guess

I'd expect MS are probably busy today with selling the very stock they'd bought according to that RNS you shared there!

Https://otp.tools.investis.com/clients/uk/bt/rns/regulatory-story.aspx?cid=1470&newsid=1873878

It was in the same article https://ifamagazine.com/data-shows-uk-stock-market-has-performed-better-under-conservative-governments/

Cheers unluckyInvestor9 - Although, I don't agree that "historically it has performed better under conservatives by a small margin". - Tory rule has tended to deliver low growth which is why they have tended to need to borrow far more cash (the undershooting growth fails to generate the treasury incomes required to sufficiently service debts).

This has nothing to do with the landline pricing issues being looked at in the CAT case; The current articles are talking about advertisements not showing mid contract price increases prominently enough.

IDoMyBest you'll have to work harder if you want to ferment negative sentiment among readers on here, trying to connect obviously unconnected things together wont work.

Oops.

Doesn’t bode well for the CAT Tribunal.

Https://www.proactiveinvestors.co.uk/companies/news/1057930/bt-virgin-broadband-ads-were-likely-to-mislead-customers-1057930.html

https://www.msn.com/en-gb/money/other/six-of-the-uk-s-biggest-broadband-providers-judged-to-have-misled-customers-over-price-hikes/ar-AA1rV47K?ocid=msedgdhp&pc=ENTPSP&cvid=d290c8d846db4e26af36166ffadf4009&ei=20

Savage I have to give you some credit. I’ve just read an article about UK stock market performance and that historically it has performed better under conservatives by a small margin, but the same article mentioned that “Stock market performance is more often influenced by the interest rate cycle than by anything a government has done”.

Https://www.lightreading.com/5g/vodafone-and-three-merger-looks-shaky-after-bt-s-latest-attack

Sky now reporting: "Mortgage blow as lenders start to put up rates":

https://news.sky.com/story/money-latest-consumer-personal-finance-skynews-13040934

Fleccy - Okay well, I originally stated:

"The 0.46% was only recorded due to rounding meaning it hits the 0.5% reporting requirement. I would expect they'll still be holding an open short but now below the reporting level."

I believe what I said is perfectly credible... so I remain unsure why you called that credibility into doubt but we'll have to leave it there.

FWIW: I never disputed the 8% 'percentage difference' between the two figures.

"However, the last time I checked 0.46 is 0.04 percentage points below 0.5%"

Not if you consider the difference between 0.5% and 0.46% in number of shares terms:

0.5% of 9,968,127,681 = 49,840,638

0.46% of 9,968,127,681 = 45,853,387

49,840,638 - 45,853,387 = 3,987,251

(3,987,251/49,840,638) x 100 =8%

I was referring to the difference between 0.5 and 0.46 (8%), which is nearly 4 million shares and arguably not a rounding difference.

Fleccy.... whole heartedly agree where you mention: "There's been loads of cheaper options for customers to choose from, like sim only and BT's basic packages aimed at pensioners and benefit claimants, as well as moving to other providers, BT can't be blamed for customer lethargy."

Ads advocating benefits of switching providers have been around for a long time and if a proportion are content with the the service quality and the monthly price then so be it... not everyone out there is obsessed about switching to save a few £squids.

Spotting a host of articles released today catching on to this trend I mentioned way back on 26th Sep...

For how much longer can UK banks continue lending cheap mortgages? Given they're currently paying far more to borrow from the markets.

Fleccy... you said "Savage 0.46 is 8% below 0.5, so a bit more than a rounding difference."

However, the last time I checked 0.46 is 0.04 percentage points below 0.5% - Yes there is an 8% in pure terms of percentage difference between the two of the figures. However 0.46% reported to only 1 decimal point becomes 0.5% as it's rounded upwards.

IDoMyBest I'm not wishful thinking anything, in fact I've been accumulating cash should BT drop significantly. I suspect the reason it's taking so long is because the case isn't clear cut. If you think about the case, it's based purely on BT compromising with the OFCOM on landline only customers, plus the part of the case aimed at split purchase line rentals. Since BT is heavily regulated and has been subject to that regulation over decades, there's an argument that OFCOM should be left to decide any punishment directed at BT, otherwise what's the point of regulating BT at all?

I never could understand the case against BT, since our household gave up on landlines years ago and moved to sim only mobiles. There's been loads of cheaper options for customers to choose from, like sim only and BT's basic packages aimed at pensioners and benefit claimants, as well as moving to other providers, BT can't be blamed for customer lethargy. It seems to me this case is aimed at punishing BT for doing OFCOM a favour.

All the CP's rely on customers not being bothered to look for cheaper deals, I experienced it with Sky before my last house move, when I wasn't bothered about checking my annual bill increases. Truth be told, anything said on here is pure speculation until the CAT release their decision.

“ Sir Alex will assume responsibility for overseeing BT’s regulatory interactions with Ofcom, ensuring that the company’s engagements align with both strategic objectives and compliance mandates”

Sounds to me like a deal is being struck between BT and OFCOM before any announcement. With altnets dropping like flies then OFCOM are going to need BT’s help mopping up the mess.

All speculation Mon-Ami. I doubt we have that much more to wait for the verdict.

Best of luck all.

Wishful thinking on your part.

Regardless of blackrock going below the radar, there could be many other shorts on BT.A that remain below the reporting requirements.

Also you are somewhat suggesting that companies are happy to report their holdings. They are not, they are made to, else face sanctions.

Regards the CAT, it would seem strange to wait over 6 months just to state BT is innocent. But it might take that long to decide on the level and type of punishment.

My assumption is big fines incoming. Hence I’ll keep my cash elsewhere for the time being. Because a big fine would perhaps affect the dividend, or at the very least increase the already high debt burden.