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The telecoms regulator Oftel yesterday ordered BT to improve the terms it offers other operators

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The telecoms regulator Oftel yesterday ordered BT to improve the terms it offers other operators selling broadband internet access on its lines to business customers. Oftel told BT to make "a number of improvements", mainly technical adjustments, to its wholesale leased line products but delayed taking a decision on pricing until October. David Edmonds, the director-general of Oftel, said the second phase of his investigation would resolve the issues of pricing and service level agreements. Oftel plans to publish a consultation document by August.The decision infuriated other telecoms companies who had asked the regulator to "fast track" the key element of their complaints on pricing. Bill Allan, the chief executive of Thus, said: "Despite minor elements of the complaint now being resolved in favour of Thus and the other alternative carriers, it is disappointing that Oftel's 'fast track' procedures have been unable to resolve the primary issues in the 10 months since the original submission.". Larry Pillard is to quit as chief executive of Tate & Lyle to run the Swiss-based Tetra Laval packaging empire. He has overseen large-scale restructuring at the company, which has sold 30 businesses and executed a cost-cutting programme.

Tate & Lyle has reduced its reliance on its traditional sugar business as it has created itself into a global starch group.The company, which has begun to look for a replacement chief executive, said the strategy would continue. Just last week Tate & Lyle posted a return to full-year profits which showed that the reshaping of the group was paying off.Mr Pillard will serve as a non-executive director at Tate & Lyle when he leaves at the end of this year. It was stressed that there had been no falling out with Tate & Lyle but Mr Pillard had been offered the opportunity to run a bigger business.He will be executive chairman of the private Tetra Laval, owned by the Rausing family.. The prospect of compensation for thousands of investors in stricken split capital investment trusts moved closer yesterday when Aberdeen Asset Management, one of the largest providers of splits, confirmed it would compensate some customers. Despite this, Aberdeen is confident that because split capitals are in such a parlous state, they are very likely to regain much of their original value.The move will bring hope to investors in other split capital funds, a type of investment trust that offers both shares for growth and shares for income, who are also fighting through lawyers for compensation because they say the funds were mis-sold.Those in the spotlight include split capital funds offered by BFS Investments and Exeter Investment. Exeter was singled out by the Financial Services Authority last month over advertising from October 2000 which said split capital funds had "more safety features than a Volvo".

Philip Thichener, marketing director of Exeter, said: "We are looking at managing the fund so that investors' capital is recovered."Tony Reid, chief executive of BFS, would not rule out compensation. But he pointed out Aberdeen's case is different because it is offering payouts on a unit trust that invested in split capital funds. The company has not said to date it will compensate people who invested directly in split capital investment trusts.Unit trusts are regulated by the FSA and generally afford more protection than investment trusts, which – as a type of share – are governed by the Listing Rules.. The two outside bidders for digital terrestrial licences have based their proposals on free-to-air services and independence from the vested interests of the established broadcasters.

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