Oftel must wait its turn as BT3 public offer closes

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BT's response to proposals by its watchdog, Oftel, on the future of its operations will be delayed until after the pounds 5bn sale of government-owned shares. BT, asked to publish separate accounts for different parts of its business by tomorrow, has been given a week's grace. After yesterday's closing of the offer to private investors, which attracted 1.4 million applications, institutions will bid for shares until 5pm on Friday Photograph: Edward Webb