New Street Research - British Telecom (BT) BT (Buy, 205p, +68%) CEO leaving - is BT now a target? Our take.

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New Street Research

James Ratzer

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BT (Buy, 205p, +68%) CEO leaving - is BT now a target? Our take.

We published a BT note earlier this morning looking at the concerns people had around sports accounting and the value BT could extract from its JV. We believe this is far more valuable than consensus was thinking. However, since then, newsflow of Jansen setting out a departure timetable and a story about BT increasing its defence against a potential DT takeover has somewhat moved the agenda on.

10/07/2023 1 EN

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British Telecom

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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James Ratzer

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BT (Buy, 205p, +68%) CEO leaving - is BT now a target? Our take.

BT (Buy, 265p, +47%) Was 240p Upside beyond the mythical £3bn FCF target

BT (Buy, £2.40, +46%) Dig a bit deeper and it is better than the headlines

BT (Buy, £2.40, +45%) TNT Sports exit - what are the financial implications?

Thai Telcos Auction concludes, no major surprises

VIPS 2Q25 Preview: Lowering 2Q Topline Estimates

Microsoft vs. OpenAI: Implications for investors?

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