- There has been a major change in BT's shareholding structure.
- This change needs to be investigated by going through market dynamics in light of COVID impacts and the competition.
- Just like Altice did with its huge passive investment, putting money in BT makes sense at this juncture.
- Some COVID-related risks persist as to the Enterprise segment, but leading market share in broadband and the better EBITDA obtainable through Openreach are strong positives.
- A look at EBITDA metrics do suggest that BT is significantly undervalued despite its recent rise.
For further details see:
BT Group: The Upside Should Continue