Which is what I posted. It at that point ceases to be a part of the BT Group but will be owned by the BT Group and that's a very different thing

It's here - http://btplc.com/News/#/pressreleases/bt-and-ofcom-r... at the bottom in the Notes to Editors.

The conference call with analysts will almost certainly cover it.

Bob_s2, it will be part of the new Openreach Division of BT Group. As explained in my recent post. Its accounts will be shown in the BT Group ones.

Edited by RobertoS (Fri 10-Mar-17 11:35:00)

Thanks Andy. Strange that a transfer under TUPE requires legislation. I expect it is something to do with the current legislation that privatised BT in the first place.

Edited by RobertoS (Fri 10-Mar-17 11:36:15)

Sorry, but what you've just written doesn't make sense and is wrong.

In reply to a post by Bob_s2:

I suggest you check your . IT is being floated off as a separate company and will no longer be a part of the BT group but will be owned by the BT Group

The new entity will be a limited company, wholly owned by BT plc. Anything majority or wholly owned by BT plc is part of the BT Group of companies.

In reply to a post by Bob_s2:

The floating of a company does not mean there will be a stock market listing. Openreach will be floated as a private limited company ie no public stock lising

The term 'flotation' is the process by which a private company becomes a public company through issuing and selling of shares to the public and institutional investors. There will be no flotation of Openreach.

All that is happening is that the trading entity, Openreach, will be separated off from BT plc into its own legal entity.

Edited by deleted (Fri 10-Mar-17 11:39:58)

I imagine this is more of a formality that has been discussed in depth with OFCOM and government officials.

I cannot see why it would not happen, particularly seeing as it's what OFCOM wanted and the government have welcomed.

Check your facts. and then get back under your bridge.

INCORRECT. IT becomes a totally separate legal entity and as stated previously it has its own company name and board. It will not report to the BT board as that would break company law for starters (other than for some regulatory requirements)

Before you keep posting, please check what you are saying as it's incorrect.

1) There will be no flotation.
2) Openreach Limited will be part of the BT Group.
3) As BT plc will wholly own Openreach Limited, they can appoint and remove directors at Openreach Limited, as is their legal right under UK corporate law. This is a very important for shareholders.

You are right that it will not be reporting to the Group board. You are also right that a new private limited company will be formed.

Almost all the rest of what you have posted in your OP and in replies to many is completely wrong.

Read the linked announcements and as many links as you like in the thread. Andy's reply to me when I queried his earlier quotation might be the easiest for you to start with.

Edited by RobertoS (Fri 10-Mar-17 11:52:03)