Mar 10, 2017
BT and Ofcom reach deal over future of Openreach
BT and Ofcom have struck a deal about the future of the company's Openreach division after it agreed to transfer 32,000 staff into a legally separate company. The deal finally removes the lingering threat of a full break up of BT and Openreach that Sky, TalkTalk and Vodafone had pushed for. The deal averts the threat of Ofcom making a submission to the European Commission to force BT to accept a new structure. The transfer of employees and their pensions was one of the last remaining sticking points between BT and Ofcom in striking a deal. BT has already installed an independent board led by Mike McTighe, the former Ofcom board member, and changed reporting lines so that Clive Selley, Openreach's chief executive, reports to the new board not Gavin Patterson, BT Group's chief executive, on everything except financial matters.
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