5.4 billion and saw the state's ownership share in BT plummet from 47.7 to 25.8%. ... Then, in 1981, the government formally established BT as a public corpora- tion in its own right.

Who owns the company BT?

BT Group is a holding company; the majority of its businesses and assets are held by its wholly owned subsidiary British Telecommunications plc. BT's businesses are operated under special government regulation by the British telecoms regulator Ofcom (formerly Oftel).

Is BT in the private sector?

It was within this political climate that the British Telecommunications Act 1981, which received Royal Assent in July 1981, came into force. This piece of legislation started the process by which British Telecom was transferred to private ownership.