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BT is required under the
continuation notice issued by Oftel on 25 July 2003, which extends
the applicability of certain conditions previously included in its
main licence to cover the 2004 financial year, to publish disaggregated
financial information for various activities of the group, which
have been used as the basis of charges paid by other telecommunication
operators in the UK for the use of BT’s network. New SMP conditions
(see ‘Regulation, competition and prices’ – ‘Conditions
applying to BT only’) apply for the 2005 financial year onwards.
The activities presented separately in the regulatory financial
statements do not necessarily correspond with any businesses separately
managed, funded or operated within the group. The results set out
in regulatory financial statements for the 2004 and 2003 financial
years showed that the group’s operating profit is derived predominantly
from fixed-network calls.
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