Feeds

BT really in the doldrums

Another share price slip after credit rating troubles

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

Rumours that BT's credit was to drop for a second time caused its share price to fall 1.8 per cent yesterday. The rumours were quickly denied by Standard & Poor but the damage had been done. It's just the latest in a series of bluffs in recent months and although it has managed to get some breathing space on its appalling Internet approach thanks to AltaVista's monstrous cock-up, the management triumvirate is under increasing pressure.

It also showed its stupidity when director of strategy Pat Gallagher said it would recoup the heavy price paid for a German 3G licence by charging customers more. When will it learn that the world has changed and the name of the game is giving customers a good deal?

Big investors are now piling in on Bonfield, Vallance and Brace (chief exec, chairman and FD respectively) saying that they are keeping everyone in the dark. In short, just about everyone that BT comes into contact with is not happy with the way things are going. And, if analyst calculations are to be believed, this is mirrored very clearly in the share price - currently at 800p but worth more like 1380p.

So what are the top boys going to do about it? We haven't got a clue and it would appear that they haven't either. Actually coming good with its threat to float some subsidiaries would be a good start - even though it has a poor perception at the moment, a float of say Cellnet would still get a fair hearing from the City. Or, of course, they could follow The Reg's advice of May and resign. ®

Related stories

BT in muddle over sell-offs
Oftel bites anti-competitive BT
Bonfield tells the world BT is dying

Internet Security Threat Report 2014

More from The Register

next story
NSA SOURCE CODE LEAK: Information slurp tools to appear online
Now you can run your own intelligence agency
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
NASA launches new climate model at SC14
75 days of supercomputing later ...
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Cloud unicorns are extinct so DiData cloud mess was YOUR fault
Applications need to be built to handle TITSUP incidents
BOFH: WHERE did this 'fax-enabled' printer UPGRADE come from?
Don't worry about that cable, it's part of the config
Stop the IoT revolution! We need to figure out packet sizes first
Researchers test 802.15.4 and find we know nuh-think! about large scale sensor network ops
SanDisk vows: We'll have a 16TB SSD WHOPPER by 2016
Flash WORM has a serious use for archived photos and videos
Astro-boffins start opening universe simulation data
Got a supercomputer? Want to simulate a universe? Here you go
prev story

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.