Chris Alliott Quotations

Sentiment is likely to be hit hard ... Investors were disappointed by the warning in October, as it was one of the first operators to lower expectations. This second hit to expectations is only likely to raise more questions.

BT's 2Q 05/06 results would appear at first glance to be bang in line with our below-consensus expectations. But slightly more-than-expected margin weakness and lower cash flow is unlikely to be taken well. Our sell rating is maintained.

We believe these are strong results from BT and that they should be well received by the market... there is more to BT than revenues. We believe these results from BT confirm that view.

We believe these are a solid set of figures.

The O2 shareholders currently have a clean, simple cash deal on the table.

The Global Services division goes from strength to strength, providing BT with diversification away from pure telecoms services that remain under intense pricing pressure.

The Global Services division goes from strength to strength ... providing BT with diversification away from pure telecoms services that remain under intense pricing pressure.