The analysts see “limited evidence of interest” for a BT Sport sale
BT’s share price has rebounded after what was a reasonable initial reaction to the telecoms group’s dividend cut and capex raise last May, plus an unreasonable inclusion of telecoms companies in the wider FTSE sell-off last year.
The recovery since then was “a logical reversal of fortunes”, Deutsche analysts said, but they are “increasingly concerned” about the recent enthusiasm about the government’s planned tax super deductions, regulator Ofcom’s market review, (“regulatory easing is not much good when infra competition is on its way”), the departure of chairman Jan du Plessis and speculation around the sale of BT Sport.