Feeds

BT really in the doldrums

Another share price slip after credit rating troubles

  • alert
  • submit to reddit

Remote control for virtualized desktops

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

Secure remote control for conventional and virtual desktops

More from The Register

next story
BOFH: WHERE did this 'fax-enabled' printer UPGRADE come from?
Don't worry about that cable, it's part of the config
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
Want to STUFF Facebook with blatant ADVERTISING? Fine! But you must PAY
Pony up or push off, Zuck tells social marketeers
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Oi, Europe! Tell US feds to GTFO of our servers, say Microsoft and pals
By writing a really angry letter about how it's harming our cloud business, ta
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
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.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.