For some time now a company named Openreach has been run completely by BT, managing the cables that bring an internet connection and phone connection to homes around the UK, which lead to a lack of competition in the area.
In order to bring some competition back, Ofcom announced that they had ordered BT to split from Openreach late last year.
Today Ofcom updated that news, revealing that they have come to an agreement with BT to split Openreach from the company, without the need to impose the changes.
As part of this deal, Openreach will become a separate company, with is awesome news for competition, consumers, and the companies who are providing broadband and telephone packages to them.
Ofcom revealed the news with the following:
BT has agreed to all of the changes needed to address Ofcom’s competition concerns. As a result, Ofcom will no longer need to impose these changes through regulation. The reforms have been designed to begin this year.
The new Openreach will have the greatest degree of independence from BT Group possible without incurring the delays and disruption – to industry, consumers and investment plans – associated with structural separation or the sell-off of Openreach to new shareholders.
You can read more about the news at the source link below.