Private Equity Other Private Equity/Strategic Investments
Bharti Enterprises to pick up 24.5% stake in UK’s BT Group
Source Mint (opens in a new tab)
Bharti Enterprises will buy a 24.5% stake in British Telecom Group Plc, the UK's largest mobile and broadband services provider.Bharti Televentures UK Ltd, a wholly owned subsidiary of Bharti Enterprises’s international investment arm Bharti Global, will buy the equity from telecom services provider Altice UK, which has a 24.5% stake in BT. Bharti Televentures will buy 9.99% of BT from Altice immediately, and the remaining 14.51% after receiving regulatory clearances.Altice’s 24.5% stake in BT was worth about GBP 3.2 Billion based on the last closing price on the London Stock Exchange. Altice is owned by Israeli-French telecom billionaire Patrick Drahi, who also owns auction house Sotheby’s.