May 11, 2017

BT Group: operator waiting

It's good to talk, BT Group used to say in its adverts. In recent years BT has let its actions do the talking. Group ebitda margins fell nearly 3 percentage points to 34 per cent. A seemingly good final quarter for mobile business EE could not offset weakness for consumer, down 5 percentage points to 21 per cent, in which live sports resides. A 3 per cent fall in BT's shares on the day says it all.

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