Bharti Global, the Indian conglomerate behind telecoms group Bharti Airtel, has agreed to acquire a 24.5% stake in BT Group from Patrick Drahi’s Altice UK.
The deal includes an immediate purchase of 10% of BT’s shares, pending regulatory approval.
Allison Kirkby, BT Chief Executive (pictured), said “We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy.
“They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come."
Sunil Bharti Mittal, Chair of Bharti Enterprises, said: “This investment demonstrates the confidence we have in BT and in the UK.
“Our own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation, and operational efficiency at the heart of its business.”
Despite this significant investment, Mittal clarified that there are no plans to pursue a full takeover of BT Group.
