22nd Feb 2016 15:42
LONDON (Alliance News) - Vodafone Group PLC Chief Executive Vittorio Colao on Monday made one final appeal to UK telecoms regulator Ofcom to separate BT Group PLC's Openreach division from the rest of BT, the Financial Times reported Monday.
Speaking at the Mobile World Congress in Barcelona, Colao made his latest call ahead of a decision by the regulator, due on Thursday, as part of its wider review of digital communications. Ofcom has tabled the possible separation of the Openreach division, which handles the connection and upkeep of much of the UK's broadband connections, as part of the review, along with other less drastic measures.
Colao told the industry conference he hoped Ofcom will push for a hiving off of the division, or that the regulator should at least force through tougher regulation that would improve performance and lead to lower prices for companies like Vodafone, according to the FT.
This followed a report by The Sunday Times that BT is set to escape a break-up when the results of the review are released, although Ofcom is expected to keep the option open to be pursued in the future.
Shares in BT were up 2.2% at 468.10 pence, whilst Vodafone was up 1.3% at 215.75 pence Monday.
http://www.ft.com/cms/s/0/c82bd5cc-d96c-11e5-98fd-06d75973fe09.html?ftcamp=published_links%2Frss%2Fcompanies%2Ffeed%2F%2Fproduct#axzz40uVU0l36
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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