April The Telecommunications Bill received royal assent on 12 April.
June British Telecom’s and Kingston-upon-Hull City Council’s licences were published.
August Oftel was officially created on 1 August. That month BT became a public limited company.
November 51% of BT shares were sold to the public – a total of 3,012 million ordinary shares. The purchase price was 130p and the offer was 3.2 times oversubscribed.
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