Member Info for bidboy

@adderblack

Your pearls of wisdom fill me with emotion. Never have I had such encouraging words said to me. I will continue to fight the good fight. Even if others cannot accept my opinion, I must keep revealing the truth. All of us who are on the square appreciate that. By the way Adder, what's the name of your uncle's father's mother? Back to their agenda. It is as clear as the Mittals. They want to hang onto their jobs for eternity. That's why they don't want a takeover. Simple. Or, as Larry Bling would say, Simples. Oh, and I almost forgot, they have absolutely no sense of humour or irony. Most still get their wives to do the ironing. No wonder there are so many divorces amongst the working classes.

@PRK

P.S. Openreach would NOT be nationalised. It would operate a business consortium, with BT as the main player and the two other main infrastructure builders in the UK + DT and maybe one other outsider.

@PRK

No, you are mistaken. Well, you are not mistaken. But that is not the reason for the Mittal interest in BT. The objective is and always was Openreach - the cash cow. With Openreach as consortium and BT as the head honcho, so to speak, with the Mittals and others effectively running the sole UK communications network. That's big bucks. BT Retail will sink or swim. It doesn't really matter.

@fleccy

I understand your point of view but disagree. Nothing means anything to the British people any longer. Everything is collapsing around us. No morals. No law. People are more concerned with paying their mortgages - those who can afford them, that is. Youngsters definitely can't . We live in a different world. No belief in God or nation. No family values. I could go on. But it's a lovely day, and I don't want to give myself indigestion.

@Larry Bling

You shine a light in even the deepest corners of pensionability. Unfortunately, the reaction of some people appears to be based on ignorance, along with an inability to accept the fact that BT is in a dire position that's getting worse.

A 40p drop in the share price over the past few weeks points to the fact that a takeover is indeed in the offing. It was signalled by Mittal when he gave the board a dressing down in February, ordering them to retain the BT brand and change direction.

It would appear that every decision the board took before Mittal effectively started calling the shots, including the introduction of a disastrous DEI policy, was designed to bring BT to its knees. In that respect, they have a lot in common with the Labour government, in my humble opinion. The only bright spot in this sorry state of affairs has been the top strategy guy from DT joining last month!

My advice to those who are vehemently against a bid is: Be careful what you wish for.

For thousands of Openreach engineers and their support staff. That's who. Post-bid, the remainers will be TUPEd over to the new consortium, pensions included. A revitalised and totally separated Openreach will manage the pension shortfall - yes, there will still be one - with ease. That's because there will be lots of lovely coin coming in, with fewer restrictions and an open playing field. While I feel the pain of the multitude of Openreachers who will be 'let go,' they will not want for anything. They will have their pensions and generous golden goodbyes. I hear that many are already retaining as plumbers and electricians. Good on them, I say. They know what's what and intend to stay ahead of the game. No point in sticking with a lost cause.

@Allwaysforprofit

If you are asking me a question and expect a response, please at least be civil. If you ask again, politely, I will repond. Thank you for your attention.

The inevitable slide continues, even before November 6. That, in my opinion, will be judgement day, when the BT share price drops to below £1.40. I hope it doesn't happen.

Even the the transfer of a couple of million TalkTalk customers might kick the problem down the road for a couple of months. But it doesn't look like the cavalry is coming to the rescue. Even if it does, the same problem will re-emerge. BT's current business strategy is unsustainable, and the entire pathetic, head-nodding board of DEI donkeys - apart from the Mittal brothers - needs to be put out to graze.

Post-bid, the picture is becoming clearer by the day in my mind. The Mittals will completely separate Openreach from BT and invite trusted partners to join the new national infrastructure, thus easing security concerns. Exactly who those partners might be will become obvious post-bid. BT will be the head honcho. DT will be there, too. So will the two other major infrastructure players in the UK. Altnets? Their usefulness and role is questionable.

Look forward to hearing your thoughts about my thoughts.

The beauty of selling off of Openreach and a consortium owning and managing it is that it lifts pensions dead-weight from BT's neck. The company will be free to thrive, with far less regulation. And Openreach will become a cash cow for its investors. No other solution makes sense to me.

@fleccy

The results in November will set the agenda. If they are poor, my opinion is that the share price will drop significantly - to below 140p. If that happens, my view is that the Mittal brothers will step in and bid, and that that bid will be welcomed by the board. BT simply cannot limp on losing more business, forking out CAPEX, paying not far short of £1bn a year into its pension fund, and a lot more in wages. It 's a waste of time talking about technology futures in such dire circumstances. Something has to give soon. My summation is that droves of employees will have to go in order to save the company from a risky future. To those who build their hopes on Altnets like TalkTalk failing, my thinking is that's not strategy for success. It's a cry of desperation.

@Phillo

You are correct in stating that BT is contributing £600 million per year directly into the pension scheme. You forgot to mention that an additional £180 million annually is provided by an asset-backed funding arrangement (i.e. one that uses company assets to secure funding). The two final payments in 2030 will come to just under £1 billion. And there is no guarantee that the fund will in the blue by 2030.

Don't think it will be long before Ms. Kirkby and her cohorts are shown the back door. And rightly so. They have mucked up big time. Cutting costs whilst losing business, promoting managers beyond their level of incompetence, and instigating a lunatic DEI policy add up to one huge disaster - the one that is unfolding in front of us right now. Let's hope the bid comes soon and sails through. Feel confident it will. Even the diehard BT supporters must see the rot.

The agreement the Mittal brothers have signed not to bid for BT without BoD agreement appears to be open-ended. The board could agree at any time. For example, if the shares dip at the next financial results in November.

The “relationship agreement” Bharti Global signed with the BT board is not a hard block on a takeover. It’s a conditional restraint, meaning Bharti (and by extension, the Mittal brothers) cannot make a bid unless the board agrees. But that agreement could be granted at any time, especially if circumstances shift.

What could trigger a shift? 1. A sharp post-November dip in the BT share price. 2. Continued stagnation in revenue and EPS. 3. Pressure from other shareholders seeking value realisation. 4. Bharti increasing its stake beyond 25%. In short, while a takeover isn’t imminent, the setup is quietly in place. If the BT share price does indeed stumble next month, the board may well find a Bharti offer more attractive than the status quo.

Other points to ponder: The top strategic guy from Deutsche Telekom is already in place, signalling a partnership with Germany's largest telco (12%+ stake in BT). Mittal has already rolled back the current CEO's policy of dropping the BT brand. It's now BT for everything. BT's business and vision-restricting DEI policy, also instigated by the current CEO, has not been the runaway success promised; in fact, it has led to a weaker, less-talented workforce.