 However, the network assets would still be owned by BT plc to ensure the longevity of leases and covenants, and Openreach Limited would still be wholly owned by BT plc's parent holding company, BT Group plc.Following the Telecommunications Strategic Review (TSR), in September 2005 British Telecom signed undertakings with Ofcom to create a separate division, for the purpose of providing equal access to BT’s local access network and backhaul products.Ofcom previously argued that BT had significant market power in the British telecommunications market, specifically in residential voice services, business retail services, leased lines, wholesale international services, and wholesale broadband and fixed narrowband services.