Member Info for fleccy

Aus I don't try and convince people of anything, I just explain why I hold the opinions I do. You don't need to understand Telecoms to understand that once FTTP is rolled out that's just about it for generations, since FTTP will serve the bandwidth needs for everyone far into the future; If more bandwidth is required, the Telecoms providers can simply add more wavelengths. As far as satellites competing with Fibre, it wont happen since the bandwidth is limited at the lower frequencies capable of working reliably at those distances; Anything RF will always be limited by atmospherics, distance and frequency, it's just physics.

Have I ever said that my job is high level? I've had a few managers who were technically competent, most didn't know the job and were just administrators, senior management weren't remotely technical and relied on advice from Engineering staff, or sales support.

Aus you don't know what my job was, it was a lot more than changing a card because it had an alarm on it, or tightening a screw. From our previous conversations I know you're lacking technically, and a VMO2 fan, so I don't even know why you bother posting on here.

Why's that fat?

NDNIC, is Mandy still banging on about a takeover? Just because someone doesn't believe a takeover is on the cards, doesn't mean they're against a takeover. Personally I'd love it if a bid materialised for BT; As I've stated previously, I'd sell all our BT holdings in that event and await the price drop after the bid fails, and then fill our boots with BT stock at a much lower price. I don't see why anyone would be against a bid if it raised the price.

That prices are manipulated, just look at todays swing. Opened at 116.05p, after results, climbed to a high of 118.75 (over 5% up on yesterdays close) and currently down 1.55% on yesterday's close, a classic symptom of Schizophrenia?

"How strange that the markets not rushing to buy a future ‘money printing press’."

Indeed Pete.

Larry I worked in Telecoms for most of my adult working life, so I have a good idea of how networks evolve. I was a Field Network transmission Engineer for over 20 years, and for the last 10 years I worked in Submarine Cable Operations maintaining Submarine Cable station terminal Equipment, as well as working a shift as a Network Operations Centre (NOC) Engineer. I'd say I've worked on pretty much every aspect of Telecommunication over the years, in relation to maintaining/installing legacy and IP related equipment, working on Microwave, FDM, PDH, SDH,DWDM, Cisco Routers/switches, so I have as a good an idea as anyone what Telecoms is about.

It's because of my background that I've invested in Telecom stocks and I believe BT are doing the right things, but that's just my personal opinion, everyone should do their own research and reach their own opinion. I have my opinion, you have yours.

Aus there isn't much they can change. The strategy is pretty much written in stone, and is a good strategy in my opinion.

The key strategy points are:

FTTP and 5G rollout

Switch off PSTN and end all legacy network

Converge everything onto a single IP core cloud network

Switch off and remove FTTC cabinets asap

Close all buildings that are no longer required

Reduce/reskill workforce as the strategy unfolds

And things I can't think of, off the top of my head.

Once the exchanges and FTTC network is gone, all that'll be left will be:

Fibre access feeding into Access routers in the remaining local exchanges

A single core IP Network

5G/4G network

A much reduced workforce.

BT's energy bill will massively reduce, as will their wage bill, and because everything will use the same network there'll be much less equipment. All the Switch-Routers, servers and any gateway devices will likely be directly connected via DWDM links, or via Network Transmission equipment where required. I think the market underestimates just how much BT will save operationally once this transformation is complete.

Why doesn't BT have much time Larry? I'm interested to know why you think that.

Larry the article content you pasted is a bit speculative in some respects, like the suggestion of spinning off EE. EE is a core component of the company and includes the mobile network, I suspect BT are rolling out Fibre to the mobile network at the same time as they're rolling out FTTP, and at little extra cost; There'll be extra costs in building and equipping the masts, but a large part of the cost will be taken out due to the FTTP rollout.

BT's advantage comes from owning all the infrastructure, many of the operational costs associated with EE/Consumer will likely filter back to BT group through Openreach earnings. BT would be mad to spin off anything at the moment imo. Something else to consider, Openreach is just an infrastructure management company with BT owning the ducts, poles, wayleaves, Fibre, etc separately. Once the pension's sorted and FTTP completed, it would make sense to spin off the Openreach workforce with a valuation based on the value of the contracts they manage.

As far as Kirkby's concerned, I'd argue she's business as usual and will follow through on Jansen's strategy without changing much. She'll have to deal with issues as they come along, but I don't believe she'll change strategy.

AL75, with less than 10 Billion shares in issue, 70p would value BT at a mere £6.98 Billion. I would suggest fundamental's make 70p highly unlikely. Technical analysis is meaningless and can be engineered to generate any outcome imaginable.

The market elite will decide where BT's price will go, I think even they'd struggle to push the price down to 70p. The market has put massive pressure on Telecom sector/stock valuations, possibly because private equity have been eyeing up Telecom infrastructure assets, as exampled in the cases of Telecom Italia selling off its fixed line network to KKR, and VOD partnering with GIP and KKR in Vantage Towers. I can't remember when, but I believe BT were approached by Private Equity interested in Openreach and in 2020 there was talk that Macquarie was chasing a stake in Openreach too. I believe Telecom stocks are being depressed because Private equity want to build a war chest of Telecom infrastructure assets, in order to bring in future guaranteed regular income. Once Fibre is in the ground, it's like a money printing press with low overheads and high margin potential.

In my opinion it's the big market players who set valuations for sectors and individual stocks, they manipulate prices through various mechanisms. BT, and Telecom stocks in general, will only rise when the power players decide to take their boot off the sector, it's anyone's guess when that will happen. I'll just hold, top up, and wait until the sector is rerated upward. I see Rolls Royce as a good example of what happens when it suits big money to lift the boot.

Jax, your crystal ball's broken:

https://www.iia.org.uk/media/1691588/help-my-crystal-ball-is-broken-cover-image.jpg

I'd suggest Vodafone have more visibility of the Italian business than media commentators, and they also know about any talks they've held in the background with other parties. If Vodafone had jumped at this deal it may have backfired on them later, and possibly showed a level of desperation. They've likely rejected the Iliad proposal for good reasons.

BT should go up on the back of these results. Hopefully the market will reward BT, but I'm not holding my breath since the market has a tendency to punish Telecom stocks irrespective of how good the results are.

No doubt the market will ignore the good stuff and focus on "Openreach broadband lines losses of 369k year to date, a 2% decline in the broadband base; ongoing weak broadband market conditions mean losses will exceed 400k in FY24"

Looks pretty good.

"FTTP build rate accelerated to 73k per week delivering a record of 950k premises passed in the quarter. FTTP

footprint is now expanded to 13m premises with a further 6m where initial build is underway

• Strong Openreach customer demand for FTTP with net adds of 432k in Q3. Total premises connected now

4.4m with increased take-up of 34%

• Openreach broadband ARPU grew by 10% year-on-year due to price rises and increased volumes of FTTP;

Openreach broadband lines losses of 369k year to date, a 2% decline in the broadband base; ongoing weak

broadband market conditions mean losses will exceed 400k in FY24

• Consumer broadband ARPU increased 5% year-on-year and Consumer postpaid mobile ARPU increased 8%

year-on-year; monthly churn for the quarter remained stable in a competitive market with broadband and

postpaid mobile at 1.1% and 1.2% respectively

• Business financial performance continues to be impacted by higher input costs, legacy declines and prior year

one-offs, partly offset by cost transformation and growth in Small & Medium Business (SMB) and Security

• Retail FTTP base grew year-on-year by 46% to 2.4m of which Consumer 2.3m and Business 0.1m; 5G base

10.3m, up 30% year-on-year. RootMetrics named EE the UK's best mobile network for the 21st time running

• BT Group NPS of 25.7, up 3.6pts year-on-year, further improving customer experience

Continued pro forma revenue and EBITDA growth year to date:

• Pro forma adjusted1

revenue £15.8bn, up 3% on Q3 FY23 due to price increases and fibre-enabled product

sales in Openreach, increased service revenue1

in Consumer with 2023 annual contractual price rises being

aided by higher roaming and increased FTTP connections, and SMB trading momentum and price rises in

Business, offset partially by legacy product declines; reported revenue was up 1%

• Pro forma adjusted1

EBITDA £6.1bn, up 3% with revenue flow through and cost control more than offsetting

cost inflation and one-off items in the prior year

• Reported profit before tax of £1,498m, up 15%

• Reconfirming all FY24 financial outlook metrics"

https://www.bt.com/bt-plc/assets/documents/investors/financial-reporting-and-news/quarterly-results/fy24/q3/q3-fy24-release.pdf

I wont filter you Jax, because I find your stupid one liners, that make no sense, amusing; For example, "it will eventually go to zero - or so that’s what my scientific calculator tells me". Clearly that would never happen since Vodafone could buy back the majority of their stock, out of petty cash, well before it got close to zero. Your wind-up technique is obvious and weak minded, you'll have to work on it if you want to achieve your goal of scaring viewers on here.

Gutter I'm going to filter you. I can't read anymore of your post's faking illiteracy, it isn't funny it's just sad and boring. The only thing I would say is that you have some sort of mental issue carrying it on for so long, I suggest you seek some specialist counseling.

Abject retirement can be a bit boring 🥱, you'll just end up spending a good chunk of each day on Financial forums, and playing with spreadsheets on Google sheets 💻