And nationalise Openreach - which planet are you on?
The same planet as the government which renationalised the national rail network one balmy Friday in October 2002.
This feels like d�j� vu (all over again!)
We had the same conversation a few weeks back. So, yes, to state again, circumstances were different with Railtrack; Railtrack at the point of renationalising was indebted to the tune of £8bn; and that became the main pretext; it was in dire financial distress.
The same pretext - financial distress and unfulfilled obligations could provide the backdrop for renationalising Openreach. With BT given the ultimatum: either roll-out FTTH to x thousand homes per week or face crippling financial penalties for non-fulfilment. That's how I would do it.
A fair valuation would be around £30billion, so where is your cheque book?
A realistic valuation of Openreach is that, like Network Rail, it's
priceless. The nation would be crippled without it. That's why it belongs in public hands. Some things are just too valuable, too critical to be left to a profit-driven, penny-pinching private sector.
Cheers, Edwin