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Major shareholder: BT CEO Gavin Patterson should step down

In a "Well, they would say that, wouldn't they ?" moment, shareholder in monopoly supplier calls for chief exec who can tell regulator where to go, sorry, whose major strength is in negotiating with its regulator.

Meanwhile, The Rest Of The World finds that Ofcom caves in to easily in the face of BT.

And, as ever, don't get me started on the taxpayer ripoff that is BDUK Phase 1.

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Anonymous Coward

Is that you Rupert?

Wouldn't surprise me if an "unnamed" shareholder was linked to the sly fox.

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Anonymous Coward

Hand BT over to it's pension fund to cover the black hole, kills two birds with one stone. Tough luck greedy shareholders.

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Anonymous Coward

"Hand BT over to it's pension fund to cover the black hole, kills two birds with one stone. "

Some of us cannot forget that BT took an employer contributions holiday back when times were better.

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Anonymous Coward

"Hand BT over to it's pension fund to cover the black hole, kills two birds with one stone. "

How about instead they remove all the management's pensions and future golden handshakes and make up the short fall with that.

Then just return openreach infrastructure to the state and we can forget the last 30+ years ever happened.

As to the "top investor" can he prove he paid all his UK taxes? if he can't then tough, shares are just another form of gambling and sometimes it is the other people profitting from ignorance.

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Silver badge
Unhappy

Maybe not.

"What BT actually needed was a guy who could take on the regulator, not a retailer and marketer."

Or perhaps, someone who could actually make the company obey the law.

Or is actually obeying regulations one of the obstacles to doing "business as usual"?

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Silver badge

Re: Maybe not.

The comment does make you wonder, just how the "Major shareholder" expects to make a return on their BT share holding - perhaps they want a block of uninteresting utility shares that without the input of a retail er and marketeer, can only go down in value - both in terms of dividends and share growth...

Or do they think that by constantly fighting Ofcom, BT will win friends...

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Gold badge
Unhappy

"and said it has not been contacted by the anonymous top 20 shareholder"

But you can be pretty sure they know who was talking.

Large companies tend to pay attention to the people who own large blocks of themselves.

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Caveat emptor

"The value of shares may go down as well as up"

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Silver badge
Meh

Re: Caveat emptor

The value of service may fall as well as go down.

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FAIL

It'd just be nice if BT could actually do the 'T' bit.

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