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BT head office sale hots up
as Canary Wharf eyes deal
(Evening Standard 21Jan18)
The race for BT’s central London headquarters is entering the
final stages with bidders including Canary Wharf Group in the fray for the prime
City development site, the Standard understands.
The struggling telecoms firm appointed agents Cushman & Wakefield to handle the
sale of the Newgate Street base next to St Paul’s Cathedral in the summer as
part of plans to save £1.5 billion. The sale is likely to fetch more than £200
million for BT because of the scarcity of major development sites in the City.
Sources said that the Docklands property giant was in “serious” discussions with
BT over buying the site, which attracted strong initial interest before
Christmas. Negotiations are said to focus on Canary Wharf bolstering BT with a
knock-out price for the building while luring the business as its biggest tenant
so far at its Wood Wharf development which is under construction and comprises 2
million square feet of office space and 3300 homes.
Landing BT would give Canary Wharf its first City scheme since it developed the
Walkie-Talkie skyscraper with Land Securities. But other bidders are still in
the mix, with a joint venture between European property investor Henderson Park
and development manager CORE also said to be a strong contender.
BT’s new chief executive Philip Jansen is expected to sign off on the final
decision soon after starting the job next month. The present headquarters —
purpose built for the firm in the Eighties — stand on the site where Guglielmo
Marconi made the first public transmission of wireless signals in 1896. The move
will end BT’s association with the site stretching back more than a century. BT
and Canary Wharf declined to comment.
Posted 21 Jan 18
BT and the Premier League
BT Boss warns there are limits to what he will pay
for Premier League games
By Matt Oliver For The Daily Mail Published: 21:51,
8 December 2017 | Updated: 21:51, 8 December 2017
BT IS bracing for a challenge to its Premier League broadcasting rights with
boss Gavin Patterson warning there are limits to what he is willing to pay.
In a marked change of tone to the last two auctions, the
embattled chief executive has told investors the telecoms company is prepared
for a situation in which it loses ground to another bidder in February.
Liverpool FC fan Patterson previously spearheaded a
multi-billion-pound raid on football TV rights that left rival Sky reeling,
snatching a quarter of Premier League games and all of the Champions League. But
as the next Premier League rights auction approaches, the 50-year-old is instead
looking over his shoulder as speculation grows that US tech giants such as
Amazon and Facebook may try to muscle in.
At a conference in Barcelona, Patterson reportedly said he
was prepared for a situation in which BT loses some of its football rights.
However, he told investors: ‘we have a Plan B. We are never in a situation where
it is existential for us.’
Insiders admit that the father-of-four’s room for manoeuvre has been reduced
after BT took several financial hits this year.
These include fines from regulators, a £500million accounting
scandal in Italy and a 31 per cent drop in its share price.
Bosses are also trying to tackle a £14billion pension fund deficit, while
pressure is mounting for the company to spend further billions on a major
upgrade of the UK’s broadband network.
The battle for football between BT and Sky has pushed prices
up by almost 190 per cent since 2012, with the Premier League last selling the
rights for £5.2billion in 2015.
Printable version .pdf Available here
Daily Mail 8 December 2017
The Italian Job Again - No Minis No Gold Bars This Time, Just
Hard Cash - My Cash!!
When share prices go up or down, I don't normally
rush to make a calculation so I didn't when the BT price crashed when news of
the BT Italian fraud broke. I have a fairly modest holding of BT shares mainly from the
Company Share Save scheme in which
we were encouraged to participate. Anyway I just did the calculation and Shock! Horror!
I'm down £9567. I repeat £9567 who said Company fraud is Victimless?
Posted 25 July 17
to bring its Indian Call Centres back home from India
In a bid to improve its appalling customer service
record. he telecoms giant is reversing a decision made in 2003 that was part of
a wider trend by British Business to export call centres and tens of thousands
of jobs. The 'U' turn means more than 80% of BT customer service will be
answered in the UK by the end of 2016 and it intends to go further. It has
created more than 1,000 new jobs to meet this target and plans to create
hundreds more over the next year.
Full report Source Daily mail !9
BT Board of Directors
Chairman: Michael Rake,
Replaced 2017, by Jan du Plessis
Gavin Patterson email@example.com
Group Finance: Tony Chanmugam
Co. Secretary: Dan Fitz
Extract from CEO Report 2015
“We will continue to deliver on our
investments and improve the service we provide to our customers. This year we
recruited 2,500 new engineers and more than 500 new agents into our UK contact
centres, with over 500 new apprentices across the group. Each of our
customer-facing lines of business made improvements in service this year. We
have increased the speed of service delivery, repaired faults faster and fixed
more customer issues first time. But we recognise we’re not yet where we want to
be and this will continue to be a priority for us.
increased productivity and streamlined our processes.
“Our performance during the year is reflected in our full year dividend, which
is up 14%. Our results and the investments we are making position us well for
the future and enable us to increase our free cash flow outlook for the coming
Proposed Full Year Dividend Up 14%
Dividends are normally
paid twice a year, with final dividends paid in September, and interim dividends
in February. From the 2015/16 tax year, shareholders who have dividends paid
direct to bank or building society accounts are sent one consolidated dividend
confirmation with our annual mailing in May, giving them all their BT dividend
information for the previous year in one statement. Shareholders who receive
dividends by cheque are sent a separate dividend confirmation with each dividend
The most recent dividends details are:
BT's Big Ideas Down Under
CEO talks to the "Australian" about BT's Strategies for Asia 22nd May 2015
BT Today Magazine - Pensioners Loose
Out in BT Drive to cut costs
Wednesday 14 November 2012 I received my usual copy of BT Today (Pensioner Edition)
and it was with some dismay that on page 21. I read that the Pensioner Edition
would cease publication from this issue onwards, because it can no longer be
funded. Does BT really need to make such meagre savings on the back of it’s
pensioners? See A Point of
BT Regional Directors and Regional Board Members
BT Shop Offers