BT shares have provided investors with terrible returns in recent years. Shares are down around 30% over the past five years, and numerous initiatives to win investors over have failed.
The business is stricken by a massive pension liability, and it limits its ability to invest meaningfully. It also makes it an unattractive takeover target because any bidder would assume the pension liability.
BT has struggled to grow in terms of revenue. In fact, it's shrunk. Consistently.
Sales have dropped in the last five years compared to the previous year. In 2019, BT recorded sales of £23.4bn. This has...
