The Telecom Industry regulator Ofcom announced today that it will ask British Telecom to share its high speed fibre optic broadband network with other service providers. Ofcom said today that it has taken the decision to encourage competition within the fibre market. Ofcom is calling the process as virtual unbundling.

BT will have to now share access to the underground ducts and telegraph poles that already carry phone lines with other service providers. After this move of the regulators rival firms such as BSkyB and TalkTalk can provide their own services to consumers on BT's fibre lines.

However, Ofcom gave BT the right to set the price for access to its high speed network. Ofcom also said that this move will encourage BT to continue its investment program. Ofcom will regulate the prices only in those areas of the country, where copper wire based broadband is the only option.

Ofcom said that after this move millions more consumers could get the access to the superfast broadband with a speed of up to 20 megabits per second.

"Superfast broadband is starting to be a reality in the UK. Ofcom's proposed regulatory framework is intended to support the next phase of development by promoting investment, competition and innovation for consumers across the UK," said Ed Richards Chief Executive of Ofcom.

On the other hand BT said that it welcomes the move of the regulator as it will boost the competition in superfast broadband market. BT also said that it had already opened up its ducts to competitors last month.