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Bharti Enterprises to Acquire 24.5% Stake in BT from Altice ...
2024-08-12 09:00:08
Business
Markets

Bharti Enterprises to Acquire 24.5% Stake in BT from Altice Group for $4 Billion

Bharti Enterprises, led by Sunil Bharti Mittal, is set to become the largest shareholder of BT Group by purchasing a 24.5% stake from Altice Group for $4 billion. The move supports BT's strategic transformation under CEO Allison Kirkby and showcases confidence in the UK's stable business environment.

Bharti is seeking clearance under the UK National Security and Investment Act while Altice grapples with substantial debts. BT's stock has surged 24% in the past six months amid its fiber network expansion.

Mexican billionaire Carlos Slim has also acquired a 3.2% stake. This deal marks a significant return for Bharti after previously holding a 21% stake in BT from 1997 to 2001, indicating a deepening relationship between the two entities.

The press radar on this topic:

The Guardian
12. August 2024 um 07:23

India’s Bharti to buy 24.5% BT stake from Patrick Drahi’s Altice

Economy
Finance
Embattled French tycoon to raise funds through deal with billionaire Sunil Bharti Mittal’s conglomerateBusiness live – latest updatesIndian conglomerate Bharti Enterprises will become the largest shareholder in the UK’s BT Group after agreeing to buy the stake of billionaire Patrick Drahi’s struggling Altice.Bharti has agreed to buy 24.5% of BT’s shares, but said it had no intention of making an offer to buy the whole company, in a statement to the London Stock Exchange on Monday. Continue rea..
TechCrunch
12. August 2024 um 07:40

Bharti will become BT’s biggest shareholder after buying a 25%, $4B stake from Altice

Economy
Technology
Bharti, owner of Airtel, will become BT's largest shareholder by acquiring a 25%, $4B stake from Altice, which is divesting assets like Teads (sold to Outbrain). Bharti's founder Sunil Bharti Mittal cited the companies' 2-decade relationship, as BT previously held a 21% Bharti stake. Bharti aims to leverage 5G and AI synergies with BT, while diversifying from its Jio duopoly. BT's CTO Allison Kirkby welcomed the investment as a "vote of confidence" in BT's future.
CNBC
12. August 2024 um 07:45

India's Bharti to buy Drahi's stake in BT, worth $4 billion

Economy
Politics
Finance
Bharti Enterprises to acquire 24.5% stake in BT from Altice group for $4 billion; Bharti supports BT's transformation strategy led by CEO Allison Kirkby; Bharti's investment seen as vote of confidence in UK's stable business environment under new Labour government; Bharti applying for clearance under UK National Security and Investment Act; Altice group struggling with high debts, selling stake in Sotheby's auction house; BT's shares have risen 24% in 6 months as it builds fibre network; Mexican..
Yahoo!
12. August 2024 um 07:23

India’s Bharti to buy 24.5% BT stake from Patrick Drahi’s Altice

Economy
Finance
Bharti Enterprises, India's conglomerate, will acquire 24.5% of BT Group, becoming its largest shareholder. The sale reflects Altice's $60bn debt struggles and Drahi's art interests, including Sotheby's. Bharti is applying for clearance under the UK's National Security and Investment Act. Bharti's founder Sunil Bharti Mittal previously held a 21% stake in Bharti Airtel Ltd, BT's former subsidiary. BT CEO Allison Kirkby welcomes Bharti's investment, which demonstrates confidence in BT's strategy..
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