BT Agrees to Split Off U.K. Network Unit Into Separate Entity

BT Group Plc agreed to legally split off its Openreach network division into a separate entity as demanded by Britain’s telecommunications regulator, a victory of sorts for the phone carrier’s rivals though not as complete a breakup as they had sought. Openreach will have its own staff, management, strategy and a “legal purpose to serve all of its customers equally,” the regulator, Ofcom, said in a statement Friday.