Member Info for fleccy

https://www.thetimes.co.uk/article/bt-may-prove-to-be-toughest-call-yet-x6r7jgsws

This one must be worth at least $1,000,000

https://i.postimg.cc/4xNrqLzK/pixel-man.jpg

https://gadget.fsetyt.com/articles/the-iconic-wolfenstein-3d-has-just-turned-25-years.html

Reminds me of a 1990's games console character:

https://cryptoslate.com/visa-steps-into-nft-fever-buys-cryptopunk-7610-for-166000/

https://www.nytimes.com/2019/08/05/sports/trump-violent-video-games-studies.html

$150,000 for a pixelated figure Hahahahahahaha, sorry can't help it.

The world really has gone mad,

"Visa jumps into the NFT craze, buying a ‘CryptoPunk’ for $150,000"

https://www.cnbc.com/2021/08/23/visa-buys-cryptopunk-nft-for-150000.html

"My personal view is that the low price reflects more on CityFibre's long term risk profile in the face of ongoing and intensifying competition from BT. But hey, what do I know."

That would be my thinking too. I'm not sure what the selling points are for the Altnets, since most of their Fibred areas will be overbuilt by Openreach offering national wholesale pricing. Even if CityFibre competes on wholesale pricing, why complicate your business by using multiple wholesale providers? Since Openreach will probably offer greater wholesale discounts dependant on scale, encouraging Wholesale ISP customers to keep all their business on Openreach, to bulk up the numbers.

It mentions the collision risk in the the other article too. The more satellites orbiting, the greater the risk of the Kessler Syndrome happening.

https://www.ispreview.co.uk/index.php/2021/08/study-uncovers-interesting-facts-about-starlinks-broadband-network.html

If I worked it out correctly, it's around £170 a year Electricity cost, based on 100w lightbulb costing approximately 1.9p per hour on a standard tariff.

Thee article below, from March, put it at £162.41, with slightly lower power levels listed. Not cheap to run.

https://www.ispreview.co.uk/index.php/2021/03/electricity-costs-of-starlinks-uk-leo-broadband-satellite-service.html

"Also, as far as CityFibre are concerned, for BT it will be a case of crush or buy .... the CityFibre investors are clearly hoping for the latter."

The original investors are possibly getting cold feet over their investment, that may be why CityFibre is looking for new investors, as the likes of GS are probably unwilling to risk more capital in the venture. The Altnets need a lot of Ducks to line up, otherwise they could fall flat, since owning a Fibre network is no good if you can't attract customers, with the operational costs there with or without customers.

"They are .... hence the pressure on our SP. City players, inc GS will be loading up with BT as they talk their book. Watch for GS et al headlines in 4 to 8 months on how undervalued BT are."

I agree that BT's price is being manipulated, I believe Vodafone's is too. Various market commentators have talked Telecom stocks down for a couple of years now, yet private equity is funnelling Billions into Fibre investment. As I've said before, at some point the narrative will change, I'll just wait for that to happen.

It's Fleccy, but I'm sure know that 5hatprofits.

To answer your question; I've never seen BT as a growth story, but viewed it as a cost cutting stock, with dramatic growth potential on the bottom line. As FTTP s rolled out, and leaseback buildings are handed over to Telereal, I expect the debt profile to drop dramatically and the bottom line to increase. Since BT own both EE and Openreach, I expect converged offerings to emerge on the Fixed Mobile side, and Openreach to be worth more as a stand alone entity than BT is currently. Since BT own Openreach, and a national network of ducts and poles, I expect they can make all these changes at a lower cost than the competition, and with more coverage. Considering the market is supposed to be forward looking, they don't seem t see what I see, and it isn't like all I've stated hasn't been telegraphed by BT previously. I also believe that the pension deficit is in view of being put to bed for good, and sooner than 2030.

"Why did GS not partner with BT?."

Because BT doesn't need to partner with GS. CityFibre, and all the other Altnet business models are dependant on Ofcom's continued regulation of BT/Openreach. Things are currently heading in the wrong direction for the Altnets, with the Equinox offer and BT ploughing more investment into FTTP. As BT/Openreach is the incumbent, with the intention of fully refreshing their network, Altnet's will struggle to compete on price as regulation tapers off. As I've stated on many occasions, the current situation has a Deja Vu feel to it.

"FTSE up and BT top of the losers, something is awry."

I just ignore the market sentiment, and only worry about the prices when I'm about to buy; I would have said sell too, but I haven't sold any of my stocks recently, and have no intention of selling any for the foreseeable future. I know why I invested, at the prices I invested, so I'll keep investing to my own narrative, not market sentiment.

"However I have had bitter experiences in the financial sector who I now avoid. "case for suspending it further" These are similar words that banks use. "we need to invest, restructure , pay PPI, fines etc so divi is temporally suspended". More or less twelve years. Mean while Bonuses continue unabated."

I worked in Telecommunications for 36 years, 30+ years working for FTSE 100 Telecoms companies. I watched the evolution from PDH to SDH, the developments in DWDM, and the growth in Cloud technology. From a Transmission perspective, Telecoms are reaching a Technological wall, there's nowhere to go once Fibre/DWDM is deployed everywhere, and 5G/"6G" is rolled out. They can already squeeze Terabits of bandwidth down a single Fibre, so FTTP will be able to cope with any future bandwidth requirements. 5G will deal with any mobile bandwidth requirements, with "6G" taking care of mass user areas like shopping centres, stadiums, etc. Personally, I see 6G as an extension of 5G dealing with direct line of sight events, and not an upgrade to 5G. Once all the masts are built, all the Fibre is installed, there's no further big infrastructure spend required ever again, as far as I can tell. Where do you invest once you've got more bandwidth than you'll ever require over Fibre, and you've squeezed as much bandwidth out of mobile communications allowable by atmospheric and Frequency constraints?

Just to add to my last post, I'd be happy for BT to further suspend the Dividend, to 2023, as long as the cash is used in a way that takes full advantage of the Super Deduction.

"I now think BT`s woes are in part its stopping of divi. Why did they?"

They stopped the Divi to divert the cash into Infrastructure build. As a long term holder I miss the dividend pay out, but I understand why they did it. There's actually a case for suspending it further, until the Super Deduction period ends, so they can divert every spare penny into infrastructure build taking full advantage of the tax benefit.

""Anyone know why the market is marking BT down 2%?"

Flash services PMI 55 vs 59 expected probably not good for UK equity sentiment.

https://www.forexlive.com/news/!/uk-august-flash-services-pmi-vs-590-expected-20210823

"Anyone know why the market is marking BT down 2%?"

Nothing I can currently find specific to BT. There are a lot of headlines about shortages of HGV drivers, possibly impacting the UK economy. Who knows what drives sentiment.

"The boss of a fibre broadband firm has accused industry giants including BT, Sky and Vodafone of misleading millions of businesses about their internet speeds."

Old news repackaged; It's the old superfast Fibre to the Cabinet versus Ultrafast Fibre to the Premise argument. This narrative has previously been flogged to death, even my non technical neighbours know the difference. Just makes me yawn.

Continued:

You only need to look at the reactions to the Equinox offer, with the Altnets and VMO2 strongly objecting. BT's ownership of the ducts and poles covering the majority of the UK, gives them a natural advantage over the competition, since the competition may be able to build at cost using BT's infrastructure, but they then have the burden of the rental charges inflating BT's profits. BT may not be the only major player going forward, but they'll likely stay the biggest player, with VMO2 possibly being number 2.

If you read many of the articles, including comments sections, you'd think that BT are somehow inferior to VMO2 and the various Altnets, but the commentators underestimate the scale of BT, and the advantage that gives. You only need to look at the reactions to the E