In Short:
Bharti Enterprises from India plans to buy a 24.5% stake in BT Group, purchasing shares from its largest investor, Altice UK, owned by telecom tycoon Patrick Drahi. Bharti will start with a 9.99% stake and aim for the rest after getting necessary approvals. Bharti’s chair, Sunil Bharti Mittal, expressed confidence in BT and the UK through this investment.
LONDON – India’s Bharti Enterprises has announced its decision to acquire a 24.5% stake in BT Group, effectively purchasing the shares owned by the British company’s largest shareholder, Altice UK, controlled by telecommunications mogul Patrick Drahi.
In a statement released on Monday, Bharti clarified that it does not intend to pursue a full acquisition of BT, a former state monopoly and the largest broadband and mobile operator in Britain.
Patrick Drahi initially invested in BT in 2021; however, his broader business group is currently facing significant debt challenges.
Bharti intends to acquire an initial 9.99% stake and subsequently seeks to acquire the remaining 14.51% stake, pending necessary regulatory approvals, including a voluntary application for clearance under the UK National Security and Investment Act.
“This investment demonstrates the confidence we have in BT and in the UK,” stated Sunil Bharti Mittal, Chair of Bharti Enterprises, highlighting the strategic importance of this endeavor.
