Bt Share Discussion Threads

[dope007] 30/5/2022 12:45

they've been leaving in droves for 20 years

[xtomo] 30/5/2022 12:35

My daughter is an accounts manager with BT and her husband works for Openreach. They both say that discontent has never been higher or morale lower and lots of their colleagues are leaving for better pay and conditions. They've had no salary increase for two years and this year they were offered 2%. Their share incentive scheme has been halted too and they're both looking for new and better employment. How can a business function efficiently if their experienced staff are leaving in droves?

[nige co] 30/5/2022 09:00

This happens ever few years Boytoy, nothing will come of it, just a game being played out.

[boytoy] 29/5/2022 10:13

Haha this is going to be the least of their problems. All BT employees are to receive their ballot papers in the post in June.
There is so much discontent amongst staff the following industrial action could run on for months. Industrial action is not necessarily a strike but can have just as devastating results…

[nige co] 27/5/2022 12:18

BT response RE Altice

FAQs: Altice update
What has happened?

We have received notification from the Secretary of State for Business, Energy and Industrial Strategy (BEIS) that he has considered the increase by Altice UK of its shareholding in BT Group from 12.1% to 18% and is exercising his call-in power under section 1 of the National Security and Investment Act 2021. BT Group will fully cooperate with this review.

What does this mean?

In December 2021, Altice – a multinational telecommunication organisation – increased its shareholding in BT Group from 12.1% to 18%. BEIS has decided that this warrants a review in line with National Security and Investment Act 2021. The Act came into force earlier this year to give the government the ability to protect national business assets from being compromised by foreign investment. It gives the government powers to scrutinise and intervene in business transactions, such as takeovers, to protect national security, while providing businesses and investors with the certainty and transparency they need to do business in the UK.

Why has this happened now?

This is a process driven by the UK government and we have not been involved. Under the Act, the Secretary of State can review transactions that he reasonably suspects may have given rise to a risk to national security. The legislation is new and we do not know why it has been decided to be reviewed at this particular time. It is for the Secretary of State to determine what, if any action to take, in the course of their review.

What happens next?

We will wait to hear from BEIS and cooperate fully with the review. It won't affect how BT operates. The business has positive momentum as evidenced by our recent FY financial results and we remain focused on the successful execution of our strategy.

[dogface] 27/5/2022 08:27

Did George's ex girlfriend's uncle find valuable informative documents in a wastepaper bin?

[cyan] 26/5/2022 20:11

Daily mail covers the news and their article has a short account of Patrick Drahi's business history.

[xtomo] 26/5/2022 16:21

I wonder could he give us next week's Lotto numbers too?

[cs44] 26/5/2022 16:03

George
Many thanks for that invaluable piece of information, you are very lucky to have such well informed and knowledgeable friends, I assume that you have taken out an enormous short on the share and will probably become a billionaire overnight. When you said a big city office did you mean an office in a big city or an office in the city of London? If it is a big office it must take a lot of cleaning.

[diku] 26/5/2022 15:28

ex girlfriend's uncle???....

[george stobart] 26/5/2022 15:21

My ex girlfriend's uncle says this is going bust soon. He works for big city office and knows things well

is it true?

[dope007] 26/5/2022 12:17

I just ignore the prat

[marine boy] 26/5/2022 12:01

@Dope007, I think you've rattled Porsche's onions. Sub 180p excellent opportunity.

[cyan] 26/5/2022 11:51

I am sure the stake builder fully factored in the 'risk' of state intervention .

Interesting times.

[porsche1945] 26/5/2022 10:49

@ dope. You dxpshxt, traders are not responsible for BT being as hopeless as it is, it has managed that year after year all on its own, its staggering really the capital destruction in BT, the UK government has “ regulated away “ its profits. Break it up and flog it off along with U.K. dogshxt plc in general. Sterling today at 30 year lows against usd, crazy. Terminal decline and a massive recession on the way and wheezing boris bunter isnt going to save you brexit gammons I’m afraid. ( AND ITS NOT STRATEGIC )

[smurfy2001] 26/5/2022 09:51

Indeed and a good thing, don’t want this chap to break up BT as well.

[emptyend] 26/5/2022 09:47

I would expect there to be conditions attached that limit his stake.

[waldron] 26/5/2022 09:36

BT Group PLC said Thursday that the U.K. government will look into the increase by Altice UK of its shareholding in the telecom group under the National Security and Investment Act 2021.

The U.K. telecom company said it will fully cooperate with the review.

On Dec. 14, Altice UK said that it had acquired a further 585 million shares in BT Group, taking its holding to 18% from 12.1%.

Shares in BT Group at 0713 GMT were down 7.70 pence, or 4.1%, at 182.20 pence.



Write to Kyle Morris at [e-mail]



(END) Dow Jones Newswires

May 26, 2022 03:35 ET (07:35 GMT)

[saltaire111] 26/5/2022 09:31

Why don’t these public sector leeches keep their noses out of other people’s business. They are a bunch of amateurs.

Salty

[nige co] 26/5/2022 09:26

"Officials now have 30 working days to carry out an assessment, under the law -- though they can extend that by another 45 days if deemed necessary."

[dope007] 26/5/2022 09:09

Good news, don't want the Frenchie destroying yet another strategic British company. Traders can go screw themselves if they wanted a fast pound for selling off another UK company to be broken up and destroyed!!

[cyan] 26/5/2022 09:08

Reading the government document tends to suggest that the process may not be too long;

"By the 30th working day, the government will inform you of one of the following:

your acquisition is cleared and can carry on (the final notification)
your acquisition can go ahead subject to certain conditions (the final order)
your acquisition is blocked and cannot carry on (the final order)
the assessment period needs to be extended for another 45 working days"

[zulu_principle] 26/5/2022 08:57

Good re-entry price for medium to long term term holders - just bought back in at a little over 181p.

What's not to like, the pension deficit is likely to disappear this year, the French pirate won't force us to sell the family jewels and fibre rollout is continuing apace.

Happy to sit back now and wait.

Edit - I forgot to mention BT's growing presence in cyber security (probably one of the key factors in the gov'ts thinking).

[cyan] 26/5/2022 08:57

Does seem to be a little over reaction to the news that the Secretary of state is going to 'scrutinise'.

I wonder how long the process will take?

"The National Security and Investment Act (NSI) came into force on 4 January 2022.

The Act gives the government powers to scrutinise and intervene in business transactions, such as takeovers, to protect national security, while providing businesses and investors with the certainty and transparency they need to do business in the UK."