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Viking Raider mDV has made huge progress in restructuring. Apart from collecting the cash from Italy there really isn't anything more to do in this first stage. Remember previous boards barely did anything and the turnaround needed now is down to them. There is a lot still to do - Vodafone have quite an outdated network in the UK and Germany is a long road, but I think, IMHO, there should be a slight acceleration in growth next year and a progressive reduction in operating costs. The share buyback only really shows its value as the company recover. Really, we're are just finished turning the ship. Now it has to sail in the right direction

Never mind the SP. Are BT poised for growth? Are they going to make good use of this fibre network that they place such importance on. Can they stop bleeding market share. If yes then the share price will recover and continue rising. But if no, the combination of a weak BT in a weak UK could be damaging for years

The share price may be dropping just now, but that's doesn't matter unless you need to cash in for some reason. What matters to me is the direction of the company. I see a major restructuring that seems to be going well, and the company are poised for growth in 2025.

Porsche 1946. Are you looking for attention? No friends to play with? Maybe if you didn't live under a bridge, the Billy Goats Gruff would have been nicer to you

I reckon this is mostly adjustments by fund managers towards miners and commodity) utility stocks after 2 months of negative GDP.

Blanchflower the board under MdV have undertaken a wide-ranging restructuring. Tes they were a mess but they've done well to make such comprehensive changes and they are now I'm growth, albeit only slightly. I get it that people don't like going back to investments that have burned them in the past, and it's true that a lot of people are sitting on a loss. But the moves of the past 12 months look good to me, and the news is reporting constant activity to reshape the business. I think a corner has been turned. I came in at 76p and I'm here for at least a year. In that time, it will become apparent whether the restructuring us paying dividends. Literally

Like I said Fleccy. Openreach is not the problem. BT Retail is. Maybe in future they'll come up with some genius revival but it's not apparent just now. Meanwhile market share will continue to reduce. Worse, the high margins of retail will be lost to the low margins of Openreach. They can stay profitable by cost cutting as you say, but smaller and cheaper is not what I want to invest in . Where's the growth coming from? I've still got some BT shares, because of their safety, but I used to have more

In the 90's BT was an effective monopoly. Equivalence wasn't a thing back then. Until it came in I could sit in a BT sales office and look at the networks going into a customer premises sold by other suppliers. Quite rightly this got stamped out. All your points are based around the premises that BT was untouchable in the past so it will be in future. That is a big error. BT and now Vodafone 3 are building national IP networks. Both of these companies are the backbones of telecoms in the UK. But they are wholesale companies with carefully monitored margins and regulations to give all retailers a level playing field. Like I keep saying, Openreach are a viable long term business. Not exciting, but solid. BT retail are declining. Several years of figures prove that. It's nor just my opinion. They have no special advantage going forward. Broadband and mobile are commodities no matter who is selling them. The companies who do well will be those who can package it up with something else they sell: baked beans for example, or maybe home insurance.

Fleecy I think Openreach are a solid business and the fibre rollout cements their future. But the profitability of wholesale isn't enough by itself to make BT an exciting business. All the cost savings you mention will happen I'm sure. Ai is going to take over and be much cheaper for BT. But that's true of all retailers surely. There's only an advantage if BT has something unique. Openreach is unique. BT retail, whether EE or BT are not unique. They are selling a commodity. 10 retailers offer broadband over fttp. 10 retailers offering 5G mobile (especially so now that Voda and 3 are committed to rolling out 5g and opening up to MVNOs). The UK is a Saturated market.

Everyone is free to make their own decisions. I know BT too well to believe that they can revive the brand. As a retailer their brand is tarred by decades of complacent monopoly. They are withdrawing from every overseas market, which marks the end of Global Services (a division that never made money). This leaves them with the UK. Unfortunately, the UK is drifting away from them; BTB especially but BT consumer sales aren't doing too well either. FTTP is fine from an Openreach perspective, but for BT as a retailer it offers no advantages. This is not just my perception. There is a thing called "Equivalence of Input" which guarantees a level playing field for all retailers. It's BT brand against all others and what does that mean? All much of a muchness. Broadband is a commodity. Retailers ten a penny. BT will continue to lose market share. They will offset thus with increasing use of AI to offset costs but again, this is nothing unique to them.

They aren't big boys. They are a collection of public schoolboys who do their research on spreadsheets

Lunchbox I would be happy to tell them as they are projecting growth that isn't happening. BT are heading towards becoming Openreach. BT retail (Business and Residential) will shrink until they have, at best, 25% of the market. They'll settle into a dividend share of 4-5% with an SP of £1.30-£1.60

Like I said before, and got roundly derided as a deramper, the BT share price should be around £1.40. They aren't selling at the present time and the rest is all futures. The rise was stupid and unjustified. No share can hold a big stampede of a gain without results to back it up

Mole Man that's reasonable if you don't believe the pruning is constructive. I think it's something that had to happen. Now it's done I will be expecting improving figures every quarter. That's going to take time but 2025 should vindicate or damn MdV's strategy. I guess that's what keeps me in and what keeps others out

After the merger approval numerous articles about this being cause for optimism. But the SP barely moved, Goldman Sachs drop their price target and the SP is down 1% this morning. What's the problem? Is all this restructuring worth nothing to investors? I think this is a gilt edged opportunity to buy into an undervalued business. People here are forecasting high 70s by the end of this week. Why? What do you see that says the SP will rise 10% in the next 5 days?

Hi Savage, me too, 10 years ago. Maybe "dopes" is a tad insulting.

Savage I hope you are right but I'm cautious about these things. Vodafone has ben unloved a long time and too many dopes punting on BT

Savage, a 10% jump would require a big player to come in. I don't know who that would be. The whole London stock market is in the doldrums just now, with everyone piling into the USA. BT got lucky with 2 big investors but they are few and far between. It might take several months into next year to get to 80-90p. Not because Vodafone are doing the wrong things, but simply because they haven't been picked up by someone wanting to put in billions

To highlight BT Business, where I was a sales rep for 20+ years. Back one decade and BT could go into a business and sell ISDN2, ISDN30, BT Net, BT MPLS and other private networks, phone systems, LAN, structured cabling, WiFi etc etc. In the SME environment (up to 250 employees), that meant a capex of £10-£200k, and a revenue stream for network rentals, CPE maintenance and call spend. These things are largely gone. BT Net, the staple of any ICT salesman and renting at £10k pa, has been replaced by a fttp product costing £1-300 per month with no cross selling onto the premises because it's all cloud based. No wonder BTB are declining. This fibre rollout has decimated their own revenue stream. Asd to that the growth in connectivity by SIM (which will accelerate with the new Vodafone/3 commitments and you have a BT shorn of business by progress. Fir that reason, I see BT going into long term decline, certainly as a retailer, leaving Open reach as the only viable business.

Give me Vodafone's brand over BT any day. I think BT are overpriced even now.