Thursday, June 23, 2005
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LONDON, England (Reuters) -- Britain's dominant fixed-line telecoms firm BT Group Plc has escaped break-up by an assertive regulator, agreeing to open its network to rivals and cut wholesale prices in exchange for lighter regulation.
The former monopoly said on Thursday it had agreed with UK telecoms regulator Ofcom a set of undertakings that guarantees rivals equal access to its local network.
Ofcom, which has been carrying out a sweeping review of the sector for over a year, said the deal would help drive down the price of calls, connections and services for consumers and businesses.