The chances of BT spending £1.5bn (E1.7bn) on a superfast broadband network have increased after Ofcom said its rules would not prevent the telecoms operator from securing an adequate return on its investment.

Ed Richards, chief executive of Ofcom, told the FT the planned regulatory regime for BT's network would not be an "obstacle". Since unveiling plans for its superfast fixed-line broadband network in July, BT has insisted they are conditional on its ability to make a sufficient return. "Regulation will not be a barrier to this kind of investment," said Richards, adding that Ofcom would publish its planned rules next month. "I am confident we will lay out a regulatory framework which will clearly enable companies to be free to make a return which justifies the investment they are making."

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