BT has agreed to separate its Openreach division after threats from regulator Ofcom to force it to do so. The move has been welcomed by rivals BT , Sky and Vodafone . The new company will have its overall budget set by BT and will report to BT CEO Vodafone on "legal, fiduciary and regulatory issues", but will have an independent board and make its own investment decisions. It’s important that today’s agreement is now implemented by BT in good faith and without delay.” BT 's near-monopoly on the UK 's broadband infrastructure has been criticised for low investment, favourable treatment of Ofcom and expensive fees charged to rivals. BT 's shares rose 4.6% to 345.6p on the news of the separation.
BT has agreed to separate its Openreach division after threats from regulator Ofcom to force it to do so. The move has been welcomed by rivals BT , Sky and Vodafone . The new company will have its overall budget set by BT and will report to BT CEO Vodafone on "legal, fiduciary and regulatory issues", but will have an independent board and make its own investment decisions. BT 's near-monopoly on the UK 's broadband infrastructure has been criticised for low investment, favourable treatment of Ofcom and expensive fees charged to rivals. BT 's shares rose 4.6% to 345.6p on the news of the separation.