In the 1990s Covad built the nation's largest digitalsubscriber line (DSL) network, offering rapid net access, but fell into Chapter 11 and got delisted from Nasdaq.
Defending BT's position as the dominant player in the ADSL (Asymmetric DigitalSubscriber Line) market, chief executive Ben Verwaayen said looser regulation would encourage BT investors to create a 21st Century network.