BT has agreed to sell its Openreach division after threats from regulator Ofcom to force it to do so . The move has been welcomed by competitors TalkTalk , Vodafone and Sky . The new company will have its overall budget set by BT and will report to BT CEO Gavin Patterson on " legal , fiduciary and regulatory matters " , 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 competitors and expensive fees charged to rivals . The new firm will have an independent board and make its own investment decisions, but BT chief executive Gavin Patterson admitted that BT would set its overall budget, and its new boss would report to him on legal, fiduciary and regulatory issues. BT 's shares fell 4.6 % to 345.6p on the news of the separation .
BT has agreed to sell its Openreach division after threats from regulator Ofcom to force it to do so . The move has been welcomed by competitors TalkTalk , Vodafone and Sky . The new company will have its overall budget set by BT and will report to BT CEO Gavin Patterson on " legal , fiduciary and regulatory matters " , 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 competitors and expensive fees charged to rivals . BT 's shares fell 4.6 % to 345.6p on the news of the separation .