BT’s Q4 results were a welcome improvement on Q3, with better growth in revenue, consistent growth in EBITDA and strong growth in cash flow

International performance continued to be weak apart from Macau, although well within EBITDA guidance. Turnaround in Jamaica remains a significant challenge

This presentation reports on the triple play of broadband, full telephony and DSL-delivered IPTV in France, the leading market in Europe for the triple play. Of France’s 16.2 million broadband subscribers, one third have migrated entirely to the VoIP services supplied by their broadband provider, dropping their line rental from France Télécom. We estimate that about 3.5 million households have activated the set-top box to receive DSL-delivered IPTV on their main set, also receiving digital terrestrial TV

Iliad is to recover the No. 2 spot on the French broadband market, behind France Télécom’s Orange, after acquiring Alice, ending Telecom Italia’s ill fated five-year French venture

The decline in broadband market growth has accelerated, with market net additions in Q1 down on Q4 for the first time in three years. Household penetration reached 59%

The current process for a sale of Tiscali Spa in whole or part appears to be breaking down, just as the prospects for standalone ISPs in the UK are becoming less certain

BT’s announcement of a project to extend fibre beyond the exchange for some existing homes as well as newly built ones is good PR, a useful regulatory gambit, and offers the prospect of regaining some initiative from unbundlers and Virgin Media at the wholesale and retail levels respectively

This report explains Ofcom’s ongoing review of Openreach’s financial framework, why it is important, the myriad factors involved, our view on the likely outcome and the implications for BT and unbundlers, in particular Carphone Warehouse and BSkyB

BT’s Q1 results were weak, with declining like-for-like revenue and EBITDA, although cash flow grew strongly thanks to a lull in capex

Carphone Warehouse had a solid quarter on the distribution side given the current environment, with 6-7% underlying organic retail growth and roughly stable like-for-like figures