In the US, the 1996 telecoms act setup similar, but weaker, requirements for incumbent local (telephone) exchange carriers. But a series of regulatory and court decisions ended up with almost all of that being vacated. Basically cable worked to get excluded because they were 'new', and then telco worked to get excluded because it wasn't fair to make them do it when cable didn't have to, and the regulator said between cable, telco, power line (hah!) and radio (hah, but slightly less hah) users had choices and everything was fine.

And the key weakneses were that the companies weren't restrucured, so retail could charge less than wholesale rates and corporate accounting would sort it out, that makes it really hard to compete; and even bigger was that access was only on a space avaialable basis, and new facilities (namely DSL remote terminals) were purpose built to provide desirable products to end users while minimizing space such that there was no requirement to provide competitive access since there was no space.

From accross the pond, OpenReach seems like a big success, and what we could have had, but didn't end up with.