I really hope BT earn loadsamoney with this as thanks to the Government losing in court to them, the public purse is now responsible for any toxicity in BT's pension scheme from its state ownership period.
That moment. That moment right there is when I would have re-nationalised then flogged the whole thing again against the pension risk. BT looks to me like a huge pension deficit with a modest telecoms company hanging off the back for dear life. Think 'Too Big To Fail' ended with the banks in 2008? It's a slower burner but it will not end well.