BT jumps as it brings in advisers to defend against possible takeover bids
A sharp decline in the company's market value since the start of 2020 has raised concerns that a number of bidders could be circling
Company
BT Group PLC
LON:BT.A
Operating in over 170 countries, BT is one of the world’s leading providers of communications solutions and services.
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BT could face new competition in call origination business as Ofcom launches review
The communications regulator is proposing to deregulate the market so phone network providers will no longer need to purchase the capability from BT
BT gets target price trim by Jefferies after bleak guidance scenarios
BT's lower-end guidance envisages renewed lockdown and abrupt withdrawal of government support
BT upgraded by Berenberg after shares fall to 11-year low
COVID-19 in particular has hit the telecoms group in four areas, first-quarter results showed last week, including BT Sport, Openreach, B2B sales and the effect on its pension deficit
BT price target cut by UBS as coronavirus recovery looks slower than expected
The competitive landscape for consumer broadband may have stabilised but news that rival Virgin Media is freezing prices this year “is unhelpful”, said analysts
BT fizzles lower as coronavirus hits profits in first quarter
A positive for the telecoms group was that mobile and fixed-line customer churn reduced 1% in the quarter during lockdown
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BT and NatWest results in focus on Friday
Other updates on Friday are expected from Glencore, Pets at Home and British American Tobacco
BT's OpenReach arm to roll-out fibre network to 3.2mln remote locations
Places that will get a fibre connection include Millom, Thurso, Ballycastle and Aberystwyth
BT upped to equal weight as Barclays eyes potential Openreach expansion positively
The bank said Openreach’s plans to build fibre to premises for 20mln more homes over the next 5-10 years, which will require favourable regulation and wholesale deals with major UK service providers, “could happen shortly”
BT insists it's not selling a stake in Openreach
It has been reported that the infrastructure arm has been valued at roughly £20bn - almost double BT’s market cap
BT and Vodafone jump after UK government allows seven years for Huawei ban
“This has not been an easy decision, but it is the right one for the UK telecoms networks, for our national security and our economy,” media secretary Oliver Dowden said
BT boss warns of dangers in ripping Huawei equipment out of UK telecoms network
A statement is expected from the government on Tuesday about the removal of the Chinese tech giant’s 5G telecoms equipment
BT and Sky set for summer sports binge as Premier League restarts
The weekends will host twenty hours of live Premier League football matches starting in mid-June.
BT faces double whammy from further Huawei 5G restrictions - analyst
BT said current government plans will cost it £500mln - and analysts at UBS said that could double under the new proposals
BT shares now 'more reasonable' versus peers but risks remain, says Deutsche Bank
The telecom group's commitment to rolling out its fibre broadband network "is a good thing" for the company’s long-term future, the analysts, but the market seems to think opposite
BT in talks over Openreach stake sale says report
Over the past three weeks, BT has held talks with Australian bank Macquarie and several sovereign wealth funds according to the FT
BT boss buys shares for £2mln as board members top up
Shares were also bought by non-executive director Ian Conn, Magdalena Du Plessis, a person closely associated with chairman Jan Du Plessis, and Karen Key, a person closely associated with non-executive director Matthew Key
Virgin Media/O2 merger could reshape the UK telecoms industry by creating a new giant
The new entity would be a big rival for BT, meaning players such as Vodafone, Talktalk, Sky and Three would be up against two behemoths
BT Group may save hundreds of millions amid Premier League restart turmoil
As it cancels dividends totalling £3.25bn over three years, BT Group may find further savings as the Premier League restart remains uncertain.
BT cancels dividend for two years to fund investment and coronavirus consequences
Chief executive Philip Jansen launched a “radical modernisation and simplification programme” to make £2bn of savings over the coming five years
Archive
BT Group dividend under scrutiny ahead of Thursday’s results
The Bank of England meeting is the big economic event on Thursday's diary
BT Group braces for dividend cut as competition and coronavirus add pressure
A survey conducted by JPMorgan found that 72% of investors would support a sizeable dividend cut
Archive
FTSE 100 closes marginally lower as trade jitters persist amid pandemic
Footsie closed its second trading day in May this year off around nine points at 5,753
BT stands behind network and jobs, but no word on dividend yet
The FTSE 100 group said it will offer a 1.5% annual pay increase to non-managerial staff from July
BT dividend cut an "obvious" option as telcos "not immune" from coronavirus
Analysts at Barclays said BT's uncovered dividend “remains the elephant in the room” and cut its forecast payout
BT sells French business to Computacenter
In the last full year, BT's French arm generated revenue of around £104mln
Archive
To cut or not to cut: dividend divergence in the face of coronavirus
Some companies’ shares soared after they cut dividends but many kept on falling
BT boss Philip Jansen tests positive for coronavirus
Jansen said he met several other people in the telecoms industry over the past week and so has alerted them to his diagnosis
Telecoms at a crossroads: BT faces aggressive broadband pricing from rivals
Recent price bundling from Sky and Virgin Media “appears aggressive”, said telecom analysts at UBS
Citigroup cuts target for BT Group, thinks stock remains a "potential value trap for now”
The bank reduced its target price for the FTSE 100-listed firm to 165p, down from 205p previously, but that was still above the current share price of 153.68p
BT makes “last-ditch effort” on TV packages
Customers will need to take a rather unflexible 24-month broadband contract in order to get the supposedly "flexible" deals
UBS more cautious on BT and TalkTalk highlighting intensifying competition in UK telecoms
The Swiss bank’s scribes have cut their target price for BT to 140p from 165p, and reiterated a ‘sell’ rating on the FTSE 100-listed stock
Berenberg cuts BT Group target price to 175p from 220p, but still maintains ‘hold’ rating
"We believe that one would either have to be overly negative on the rate of decline in BT’s financials or take a strong view on real gilt yield deterioration to justify a price target significantly below the current share price"
BT, Vodafone and TalkTalk face “disruption” from new price war
Regulator Ofcom has estimated that around 40% of UK broadband customers that are out of contract pay roughly 30-35% more than new customers, with mobile customers affected too
Archive
BT Group downgraded to ‘hold’ by HSBC after “underwhelming” third quarter
The bank said the telecoms firm was afflicted by a “malaise” that left them struggling to see any benefits for the shares
BT's extra 5G costs raises further dividend questions
“In order to make 5G work we are going to have to use other manufacturers’ equipment,” says chief executive Philip Jansen
BT Group warns government's Huawei 5G decision will have £500mln impact
“BT delivered results slightly below our expectations for the third quarter of the year,” said chief executive Philip Jansen
BT Group broadband pressure, Diageo’s festive performance, and Shell trading update all in focus on Thursday
It is set to be a busy day in the City, before the Bank of England’s Brexit-eve interest rate decision.
Deutsche Bank cuts target for BT Group noting that "risks have risen” on the broadband front
The German bank’s analysts have reduced their target price for the FTSE 100-listed firm to 157p, down from 169p previously
BT faces further pressure as Sky nears broadband deal with Virgin Media
Sky and Virgin Media executives met for talks on Friday as the pair eye a potential UK fibre broadband collaboration, according to reports at the weekend
Archive
FTSE 100 tanks over 2% as investors take flight due to coronavirus crisis
Britain's blue-chip index finished down nearly 174 points at 7,412, while FTSE 250 also plunged to end at 21,303 - down around 460 points
BT’s quarterly update to be “uneventful”, says Berenberg
Analysts expressed support for Philip Jansen, who started as the telecoms firm's chief executive last February
BT boosted by Ofcom plans to “supercharge” fibre broadband investment
Ofcom has unveiled new proposals for regulation of the fixed-line network to “supercharge” investment in fibre internet and helping BT's Openreach with its rural roll out
FTSE 100 ends Christmas Eve half-day with gift of small gains
At the close, the UK benchmark was 8.65 points higher at 7,632.24, just off the late peak of 7,636.16, and well above the opening low of 7,608.22
BT dips as Deutsche Bank makes Christmas comparison to Scrooge
“Will Ebenezeer’s replacement, already a year in charge, awake on Christmas morning with a desire to shout from the rooftops that reasonably-priced, full-fibre for all is ScroogeCo’s future regardless of the impact on stuff like the dividen
BT agrees sale of Spanish unit
The Spanish business generated revenues of roughly £230mln last year
BT strikes deal to sell Spain business - local report
BT will reportedly split its Spanish business in two over the coming five or six months
BT tops Jefferies post-election 'buy' list
With the spectre of nationalisation of its regulated Openreach business under a Labour administration now no more than a bad dream, the American brokerage expects the telco’s shares to spark back into life
BT sees “attractive economics” for fibre, but UBS still forecasts divi cut
BT's Openreach infrastructure arm claims it is building out its fibre-to-the-home (FTTH) broadband network at three times the rate of its nearest competitors
BT faces massive month, and broker says dividend risk remains
Berenberg said an election result that delivered a Conservative majority for Boris Johnson in parliament “would cause real gilt yields to increase, reducing BT’s pension deficit”
BT faces “race to the bottom” as 5G adds to broadband competition
Barclays downgraded the shares after regulatory efforts will lower costs for BT’s competitors, notably TalkTalk and Vodafone
BT investors shrug off Labour's Openreach nationalisation plan, UEFA rights renewed
The infrastructure unit would be nationalised to create a UK-wide network to offer "free full-fibre broadband" across the country
BT Group shares slip as Citigroup trims target price after recent results
"BT still need to weather through a number of regulatory headwinds, with most of efficiency savings likely being reinvested to modernize system and drive future efficiency improvement"
BT holds dividend steady as cost cuts offset lower revenues
The FTSE 100 telecoms group reported a pre-tax profit of £1.3mln, the same as the prior year, while revenues fell 1% to £11.4mln
BT sells fleet business to Aurelius Group in ongoing "transformation"
The troubled telecoms giant recently warned future dividends may be cut as it entered talks to sell infrastructure in the Netherlands and corporate business in Ireland
BT shares 'unlikely to re-rate amid uncertainty', says UBS
The telecoms group gave no update on how any expanded roll-out of superfast broadband would be financed, leaving investors to continue worrying about a dividend cut
Ex-BT boss Gavin Patterson hired by Salesforce to lead European operation
Patterson will serve as chairman of Salesforce for Europe, the Middle East and Africa following his ousting from BT in June last year
BT shares lack near-term catalysts, says UBS as it cuts target price
UBS maintained a ‘neutral’ rating on BT's shares but cut its target price to 165p from 240p.
BT Group reportedly in talks to sell its Irish corporate business
A private equity group is said to be interested in buying the business
BT Group reportedly looking to sell more than £100mln worth of infrastructure assets in the Netherlands
Weekend reports suggest the blue-chip firm is set to offload telecoms towers and broadband cables that serve the firm’s Global Services business customers in the EU country
BT offers 'attractive value' as regulatory and price pressures ease
Goldman analysts see an “improving regulatory framework facilitating returns on fibre investment over the medium term”
BT faces challenges in consumer division and fibre roll-out, says Barclays
Barclays maintained an ‘equal weight’ rating and target price of 240p on BT after the company reported mixed results for the first quarter
Archive
FTSE 100 closes sharply lower as US jobs fail to inspire; RBS top laggard
"The [jobs] report will more than likely be brushed aside as Fed Chair Powell and US President Trump continue to clash horns in a power struggle," said Nick Kilbey, a sales trader at Foenix Partners
Archive
RBS update to follow banking rivals amid 'challenging' market, while BT first quarter 'should be ok'
An update is also scheduled from British Airways owner IAG
Investments and investor services
FTSE 100 romps to higher close as Just Eat delivers 22% share gain
Just Eat is poised to combine with Dutch rival Takeaway.com to form one of the world's largest food delivery firms
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Week ahead preview: Lloyds, Barclays, RBS, BT Group, BoE and US Fed
It will be a busy week for markets with a barrage of corporate earnings and interest rates decisions from the Bank of England and the US Federal Reserve.
Why you should be looking at small- and mid-caps to stuff into your income portfolio
Most income investors fill their boots with FTSE 100 giants such as BT and Vodafone, but with several high-profile dividend cuts of late, Octopus fund manager Chris McVey reckons a ‘multi-cap’ approach is needed
BT faces extra pressure on dividend from Virgin Media fibre acceleration
BT's Openreach has "little choice but to accelerate" its fibre broadband rollout in order to gain scale quickly amid reports that Virgin Media is seeking to expand its fibre footprint
BT to move into new central London office by end of 2021
The telecoms group is to move to a new site in Aldgate by the end of 2021, when it has to move out of its current HQ near St Paul’s, which it sold off last week for £210mln
BT sells off London head office for £210mln as 'transformation' continues
As part of the deal, BT will lease back the 300,000 sq ft building for up to 30 months while it moves its headquarters to a new location in London
Hardware & electrical equipment
TalkTalk reaffirms full-year guidance after strong demand for fibre in first quarter
Total headline revenue rose 1.3% in the first quarter
BT considers dividend cut in 'a year or two' to fund full fibre broadband roll-out
BT will also look at reducing capital expenditure, cutting costs and borrowing more to help fund the expansion of the fibre broadband network
BT Group expects IFRS 16 to have positive impact on 2020 earnings
Under IFRS 16, retailers now need to include leasing obligations in annual statements of assets and liabilities.
BT explores sale of Spanish business as part of turnaround plan
The telecoms giant has started talks with potential buyers of BT España, according to the Telegraph.
BT sinks below 200p as Deutsche Bank downgrades to ‘sell’ amid dividend fears
BT recently upped its pledge to deliver fibre-to-the-home (FTTH) to 4mln customers by March 2021, raising BT’s capex, which in turn “threatens [the] EBITDA recovery”
BT Group to consolidate its offices across the UK from 300 current locations to around 30 sites
The FTSE 100-listed telecom and broadband provider said Belfast, Birmingham, Bristol, Cardiff, Edinburgh, Ipswich, London and Manchester would be key locations for the group
Shell shows way forward for dividends as other blue chips cut their cloth
Oil major guides to total dividends and share buy-backs of US$125bn “or more” between 2021 and 2025
BT upgraded to 'overweight' by Credit Suisse
Credit Suisse expects BT’s move away from sports rights ownership to boost free cash flow by up to £200mln by 2023
KCOM surges as it receives £563mln takeover offer
The telecom group received a £505mln from the Universities Superannuation Scheme in May. However, on Monday it said it would withdraw its recommendation in favour of the higher bid from investment fund Macquarie European Infrastructure
BT will have to open up business network to rivals, watchdog says
Regulator Ofcom says fully opening up the network will help increase overall investment in high-speed broadband and 5G mobile
Archive
United Utilities and Intertek Group to be in focus on a busy Thursday
United Utilities, Intertek, Mitchells & Butlers, TalkTalk Group, and Tate & Lyle are all in the schedule for Thursday.
Jefferies thinks BT’s dividend is safe as it predicts possible return to earnings growth next year
Some have pointed to BT’s dwindling earnings as a key reason why the divi is not sustainable, but the US broker believes there is a “highly credible prospect” earnings will return to growth next year
Archive
Still no opportunities to sell in May, with Royal Mail and M&S set to deliver updates
The Week Ahead will also bring news from power firm SSE and water groups Severn Trent and United Utilities, plus the latest UK inflation and retail sales numbers
BT to award £50mln in shares to employees to boost morale
“I’m asking our colleagues for their commitment to making BT a national champion and I want to give them ownership in our company and a share in our success,” boss Philip Jansen said
High FTSE yields point to 'dividend slaves' that may cut payouts
Grace Jones' Slave to the Rhythm might well have been about the pressure of a progressive dividend policy: 'Build on up, don't break the chain; Sparks will fly when the whistle blows'
Analysts trim BT share price targets after results
Contrary to reports of a boardroom split, the telecoms group's decision to maintain the dividend was not a “close” one with the board unanimous
BT’s dividend is safe…for now
Despite rumours to the contrary, new CEO Philip Jansen has kept the divi on hold for the time being, but the way BT’s cash generation and profits are heading, the longer-term outlook is less certain
BT keeps dividend unchanged and ups fibre investment target
Annual revenue, profits, earnings and cash flow all declined, while debt ballooned
Investments and investor services
FTSE 100 closes in the red as markets sink on growing trade war fears
In Europe, the German DAX tanked 206 points, while the French CAC 40 is down around 104
Archive
BT Group will be in City spotlight on busiest day of the short week
Thursday's preview includes BT Group, Superdry, Morrisons, Barratt Developments, and RSA Insurance.
BT board divided over potential dividend cut
A split has apparently emerged between chairman Jan du Plessis and new chief executive Philip Jansen
Investments and investor services
FTSE 100 closes firmly in red as traders fret about trade
Stock markets in Europe have suffered severe declines as US-China trade tensions have heightened
Archive
BT to take centre stage as it reports full year numbers with dividend in focus
The week ahead includes updates from BT Group, Superdry, Morrisons, ITV, IAG, Barratt Developments, Direct Line, RSA Insurance and Imperial Brands
BT executives involved in Italy accounting fraud scandal, investigators claim
A series of emails show BT’s top executives were involved in artificially inflating the Italy division’s financial performance
While UK dividends hit record £19.7bn in first quarter, some FTSE 100 companies could be headed for cuts
Basic measures like dividend cover suggest a number of blue chips might be struggling to maintain their payouts at current levels
Berenberg thinks new BT boss may cut telecoms giant’s dividend
Berenberg analysts have argued that BT doesn’t have enough cash to fund both its dividend and the much-needed reinvestment
BT gets hefty upgrade from US broker as Openreach headwinds ease
The new 340p target is 28% above Jefferies' previous forecast
BT dividend hike seen as unlikely by analysts as telecoms firm tackles costs, pensions and debt
“With the combined pension and net debt position a rather daunting £16.1bn, it’s hard to see the new CEO raising the dividend in May’s full years,” said George Salmon, equity analyst at Hargreaves Lansdown
BT reports better-than-expected third quarter earnings but warns of challenges ahead
Outgoing chief executive, Gavin Patterson, said he believes he is handing over the business to new boss Phil Jansen with “good momentum behind its ongoing transformation programme”
Investments and investor services
FTSE 100 closes higher, bolstered by resource stocks
The premier index of leading shares added around 27 points to finish at 6,968