Entering text into the input field will update the search result below

BT Group floats independent board for Openreach instrastucture unit

Jul. 25, 2016 9:55 AM ETTalktalk Telecom Group, PLC ADR (TKTCY) StockVOD, BT, SKYAY, TKTCYBy: Jason Aycock, SA News Editor
  • With a regulatory report looming, BT Group (BT +1.7%) has offered to set up an independent board for its infrastructure arm Openreach in a bid to keep the division in the company.
  • Openreach has become a bone of contention for rivals like Vodafone (VOD -0.3%), Sky (OTCPK:SKYAY +0.8%) and TalkTalk (OTCPK:TKTCY) that buy wholesale capacity from BT and who have argued for a breakup of the company to ensure fair competition.
  • UK regulator Ofcom is set to issue a report tomorrow on how BT can improve its performance, and has been considering whether a split is in the industry's best interest; in December, the regulator's chief said the status quo wasn't an option with Openreach.
  • "We believe very strongly ... that this would be the wrong time to break up BT and distract us from the remaining investment to get superfast and ultrafast broadband right across the country in the next two to three years," says Chairman Mike Rake.

Recommended For You

More Trending News

Related Stocks

SymbolLast Price% Chg
TKTCY--
Talktalk Telecom Group, PLC ADR