This stock has tested this level on many occasion but is perhaps now breaking clear to test the 2004 highs of 38p. Recent strong results and good all round fundamentals indicate to me the stock is greatly undervalued. Also combined with the factor that NSB could be a potential take over target, we could be about to see a rapid revaluation.

I agree that the overhang appears sustained but for how long? The pipeline and additional BT UK performance is strong and I'm feeling more positive about this stock than I have done for a few years. There are many who were burnt by this one in the past but the company really appears to have turned the corner. Time will tell but the next few weeks could be key.