Bharti Global has agreed to acquire a 24.5% stake in BT Group from Altice UK, marking a significant investment in the UK telecoms giant.
The acquisition will be executed in two stages, with an initial 10% stake purchased immediately and the remainder following regulatory approvals. Bharti Global, the international investment arm of Bharti Enterprises, has expressed strong support for BT’s current leadership and long-term strategy. The deal highlights Bharti’s commitment to BT’s future and its recognition of the company’s national importance and extensive infrastructure in the UK.
Key Points:
- Bharti Global to acquire a 24.5% stake in BT Group from Altice UK in a deal valued at approximately £3.2 billion.
- The acquisition will occur in two stages, with 10% purchased immediately and the rest after regulatory approvals.
- Bharti Global supports BT’s CEO Allison Kirkby and the company’s strategic direction.
- Altice UK initially acquired its stake in BT in 2021 but has faced losses due to a decline in BT’s share value.