I am afraid you are incorrect, the majority will interpret the word float to involve a public share issue etc

The BT Group will retain a veto on Openreach CEO but require Ofcom approval

No TUPE is a legal requirement when a company floats. A TUPE Consultation has to take place with the staff. TH current employment conditions will transfer across under TUPE the one major exception is occupational pensions these are not covered by TUPE

You keep using the word 'flotation' - there is no flotation happening. It's completely the wrong word to use here.

The closest word to what is happening here is 'divesture'.

Then they are wrong a flotation is any float of a company and shareholding be it a Public or Private listing. AS o OPENREACH is being floated TUPE will for example come into play with most employment conditions transferring across the exception being Occupational pensions as TUPE does not cover them so that ill be down to a separate agreement

I doubt the chairmen of the BT Group could have a general veto as that I believe would be in breach of company law unless the VETO is restricted to regulatory
issues only

Edited by deleted (Fri 10-Mar-17 11:58:18)

https://www.reference.com/business-finance/differenc...

You appear to be saying it will be Openreach Public Limited Company, and public would mean TalkTalk if it wanted can buy shares on the open market.

It will be Openreach Ltd i.e. no public shares

Rather interestingly, it looks like Adrian Kennard of AAISP had already been running a dormant company called Openreach Limited.

This entity was 'voluntarily' dissolved by Adrian Kennard last year.

It is a floatation into a separate company. IT does not mean a stock market flotation that's a different thing. It is being floated as a Private Limited Company. .

So I suggest you contact the legal team at Ofcom...

https://www.ofcom.org.uk/about-ofcom/latest/media/me...

Executives will be accountable to the new Board. Openreach�s Chief Executive will in future be appointed by, and accountable to, the Openreach Board. BT Group will be able to veto appointment of the Openreach CEO, but only on notification to Ofcom. The Openreach Chief Executive will then be responsible for other executive appointments, and will report to the Openreach Chair � with a secondary accountability to the Chief Executive of BT, limited to necessary legal, fiduciary or regulatory obligations.

You basically need to be more precise in your use of the word floatation, and make it clear you are referring to a privately listed company (abbreviation Ltd)

And I'll keep on that you need to reconsider your use of the word floatation as its misleading people.

You keep listing it as Private Limited Company also in the full knowledge this will shorten to PLC thus giving the impression to people it will be on the stock market.

Keep trolling and the door will close.

The fact remains, it will be a company within (a new) Openreach Division of BT Group.

You seem not to have (properly) read a single published document. There are links all over the place. If wherever you read it says it will not be part of BT Group, than that source is simply wrong.

How about a link to your original source please?