Britain's biggest telecoms operator BT avoided being broken up on Tuesday when the regulator proposed putting the firm's network into a legally separate company within the wider group in a bid to improve broadband coverage. Britain currently ranks favourably with its European peers in terms of broadband speeds and costs, but with much of the infrastructure based on BT's copper network, the regulator fears the world's fifth-largest economy will fall behind unless it upgrades to fibre. Plans set out on Tuesday by Ofcom are designed to improve the running of the BT Openreach network and incentivise both BT and its rivals to invest in new infrastructure to enable Britain to be able to compete with the likes of South Korea and Japan.
- Reuters•2 days ago
Speaking a day before regulator Ofcom issues its verdict on how BT should improve performance, Chairman Mike Rake said the group realised it had more to do to improve its network but that forcing separation was not the right way to go. BT has already offered to increase spending on the division that runs the network - Openreach - and on Monday it went further by spelling out its plans to give the unit greater autonomy. "We're absolutely willing to form an Openreach board that would have an independent chairman, a majority of independent directors.
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|Ask||31.32 x 1400|
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