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Fleccy as phat said, pj was paid millions.
Halved divi
Bad strike management
All he has done is what any ceo could have done, roll our fttp.
He did nothing new, inspiring, transformational, or entrepreneurial, which is what the big bucks is paid for.
Plus Abject , back in 2020 Jansen suspended the divi for 18 months , then reinstated it at 7.7 pence per share. It had been previously 15.4 pence per share.
So not only did he half the share price during his tenure , he also halved the divi. Jansen has been a disaster for anyone investing in BT. If he failed to communicate his strategy to the markets adequately , then again the fault lies with him , he was rewarded in millions , and just look where he has left us. - desperately fighting to stay above £1.00 per share and talk of further divi cuts.
Jansen has been a disgrace , he has took the money and slithered of - good riddance to bad rubbish
They're developing and testing new tech at Adastral Park, they're rolling out FTTP and 5G faster than anyone else, and finding cost savings as the transformation progresses. I'd be interested to know what more BT can do?
He could have done more Fleccy
I think Jansen had/has the right strategy, it isn't his fault if the market can't see, or chooses to ignore, the plan.
I think you’ve got a point about OFCOM.
At the time I wrote to my MP pointing out the fact you refer to.
Interesting that he gave me reasonable response that didn’t dismiss my concerns out of hand as I thought he might ,he also suggested that my letter had prompted him to some research on the topic.
If MPs get enough input from constituents about the demonstrable lack of impartiality of OFCOM it may help a little.
Fleccy. You’re being too nice to Jansen for a momentary slip of the tongue as reason for his departure.
Hes gone because he was a waste of space who saw the SP halve in his tenure, and didn’t see a point in staying to leave on good performance because that was too far off for his liking. He was around 5 years, and had recovery been 12 months away he would have stayed, so it was on his watch, but recover isn’t 12 months off, so he went.
The weirdest OFCOM action I've seen, that makes me wonder about their attitude toward BT, is what happened with Jansen in respect of the end in tears comment.
https://www.ofcom.org.uk/news-centre/2023/openreach-independence-well-established#:~:text=The%20comments%20of%20BT's%20Chief,Ofcom%20and%20industry%20significant%20concern.
The Jansen comment was reported in Feb 2023
https://www.benton.org/headlines/bt-chief-warns-openreach-fibre-push-will-%E2%80%98end-tears%E2%80%99-rivals
https://www.ofcom.org.uk/__data/assets/pdf_file/0027/255528/letter-philip-jansen-to-melanie-dawes-060223.pdf
By the end of March, Jansen was on his way out of the door.
https://www.ispreview.co.uk/index.php/2023/03/bt-group-uk-reportedly-hunting-for-new-ceo-to-replace-jansen.html
It appears that Altnets can do as much goading as they want, but any kickback from BT and OFCOM are all over them. It wouldn't surprise me if Jansen went due to the "end in tears" comment, and the subsequent OFCOM delaying action on Equinox pricing following the comment.
OFCOM don't appear to be friendly toward BT and seem to treat them as if they're a Government department rather than a publicly traded company with shareholders.
Ha, yeah savage had to study your post to decipher it , haho. I agree about conspiracy theories but don`t you think over last decade OFCOM have scrutinised every move BT have made. And not for the better. I grow weary of OFCOM`s constant fault finding and believe that the court case ongoing is brought by an ex OFCOM employee. Is this not akin to insider knowledge?
Anyhow codswallop or not BT will continue to be at the mercy of OFCOM unless present management grow some.
have a good weekend, same to all.
Do we have any dates yet?
Yes we know. UBS have a agenda against BT
He bought in around 150p from memory.
Will he do a Kretinsky?
Sell BT, says investment bank amid Openreach concerns
Published: 12:30 25 Apr 2024 BST
BT Group PLC -
UBS has restated its 'sell' recommendation for shares in BT Group PLC citing concerns over its subsidiary Openreach, which manages the United Kingdom's digital network infrastructure.
The investment bank's latest analysis assesses the challenges the business faces in maintaining its dominant position in the domestic broadband market - and thinks could lose as many as one million lines in the financial year 2025.
The report goes on to highlight the increasing competition from alternative network providers, which are rapidly expanding their infrastructure.
Further exacerbating the situation is the potential for stricter regulatory oversight and moves to promote competition, that could hit profit margins.
UBS's price target for BT shares is 100p versus the current price of 105.25p (unchanged).
Hopefully UBS lose some cash on this blatant attempt to talk BT stock down.
Keep on topping up on the drops! ☀️👍
*but not bit
*seen not been
*naturally the law is NOT perfect, not naturally the law is perfect
Clearly I can't type today!
"I have thought for a long time now OFCOM, BT,s nemesis, has been behind all litigation, fines, court cases and share price destruction."
Well I think that is conspiracy theory nonsense... I get why these kind of things get traction & a bit of a following for a time period bit frankly I think that theory is codswallop.
Ofcom has to been to be giving a complaint by many thousands airtime & the due diligence checks and legal process to test if those claims being made are valid, or not... naturally the verdict can go either way depending on evidence provided by both parties to make, or fake, their case.
Naturally the law is perfect but it's the best system there is to test the validity (or not) of the claim(s) being made. We just have to await the outcome.
Do all UBS clients hang on to every word they say on BT?
It would appear not as the tenth largest shareholder in BT is
UBS Asset Management UK Ltd which owns 67 million shares on behalf of clients.
I have thought for a long time now OFCOM, BT,s nemesis, has been behind all litigation, fines, court cases and share price destruction. As there is a class action ongoing against BT, OFCOM derived, is it not time for a class action against OFCOM by BT shareholders? Citing OFCOM,s constant and vindictive attacks on BT.
You can bet your house that the GOV will get their full corporation tax if BT has to pay a fine. It will be share holders that get the s...ty end of the stick again.
MCAP is just arithmetic driven by the price which as you say gets swayed by all sorts of things.
I agree with the sentiment of Mulders post about EE and as a stand alone entity it’s probably still worth more than the BT MCAP at present.
The way the market views BT will only change if either BT plans come through with their promise which will likely take four or five years or in the absence of the possibility of a total sale of BT then a sale of assets including EE leaving the core Network Assets and Openreach as the new BT would release shareholder value of multiples of todays MCAP.
Unfortunately can’t see there’s a will to do that so LTH will have to put up with the paper losses or look elsewhere.
From the tone of the majority of this board I think most are patient .
i personally would buy more bt shares if i had the cash, page 40 on the attached shows arpu growth. jansen called openreach "an unstoppable machine"
so i fear for the talktalk retentions advisors job saying "a lot of calls going to youfibre" to customers, given that all calls are recorded and monitored (i hope he/she doesn't get a **********) .
this is a good read - just look at the revenue (table 3 page 49)..........interstellar, 55000 job cuts in the whole of bt by the end of the decade. results on the 16th may, openreach will shine again lets see what the other parts of bt do.
https://www.openreach.com/content/dam/openreach/openreach-dam-files/new-dam-(not-in-use-yet)/documents/regulatory-compliance/investor-brief-2023-online.pdf
The market doesn't care about MCAP
Market has far more (worrying) things to be concerned about and price shares on ....
I agree with UBS.
I recently cancelled my talktalk line for netomia/youfibre.
Price was cheaper, speeds were better.
When I was on the line to talktalk retentions the advisor said there had been a lot of calls going to youfibre.
This is a net loss for open reach.
They are having to roll out new infrastructure and sell the service for less.
I would personally not be buying BT.
BT paid £12.5Bn for EE alone, in 2015.
Market cap now just £10Bn for the whole company...
They clearly have a agenda its so obvious, many other banks disagree and we will have further updates from them shortly.