Report
James Ratzer

New Street: BT (Buy): Openreach - "the hidden jewel" : Q3 deeper dive

On the last two results days, BT’s shares have not traded well, but have then fared better in the most recent intervening period. Therefore, given the market reaction today to BT’s results, we think it worth revisiting what we see as the key driver of value: the underlying performance at Openreach – which we see as the “hidden” asset within BT.
Underlying
Provider
New Street Research
New Street Research

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Analysts
James Ratzer

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