Business
OPENREACH TO BE MORE INDEPENDENT AND TRANSPARENT
OPENREACH TO BE MORE INDEPENDENT AND TRANSPARENT.
About this update from Bt Group Plc
[{"type":"text","content":"\n \nRNS Number : 2200F BT Group PLC 26 July 2016 \n\n \n July 26, 2016\nOPENREACH TO BE MORE INDEPENDENT AND TRANSPARENT \nAn Openreach Board to be established with a majority of independent members\nOpenreach to have greater autonomy, budgetary control and decision making powers\nNew commitments to improve transparency and industry consultation\nBT today confirmed it has volunteered significant governance changes to further increase the independence and transparency of its local network business Openreach. It believes these unprecedented changes, elements of which have been welcomed by Ofcom today, can form the basis for a fair, proportionate and sustainable regulatory settlement. They can also help Ofcom conclude its review and achieve its aims in a quicker timeframe. \n The changes will enable BT to focus on its plans to further improve the UK's digital infrastructure. The UK is already the leading digital economy in the G20 and BT will help it maintain that lead by investing a further six billion pounds in its fixed and mobile networks over the next three years. Capital expenditure has risen by more than thirty per cent at Openreach over the past two years and will rise again this year as the business focuses on delivering better service, broader coverage and faster speeds. \nThe main governance changes include: the creation of an Openreach Board with an independent Chair and a majority of independent members; the greater delegation of strategic, operational and budgetary responsibilities; and an enhanced consultation process with industry on future investment plans. \nBT believes the re-organisation of Openreach addresses the c...