Image source: Getty Images
To me, the BT (LSE: BT.A) share price looked built for volatility. The FTSE 100 telecoms giant was a huge, sprawling concern, with its fingers in too many pies, and long-standing problems it still hasn’t fully addressed. But has something fundamentally changed?
BT Group had a vast pension scheme, hefty £20bn net debt, and a habit of pursuing questionable strategies. The lurch into sports broadcasting never sat comfortably with me, draining resources and distracting from the core job. It’s now beaten a sharp retreat and rightly so. Telecoms is tough enough on its own, demanding constant investment in infrastructure, and a relentless battle against smaller, nimbler rivals.
