Bharti Enterprises Acquires 24.5% Stake in BT Group

Bharti Enterprises has announced its intention to acquire a 24.5% stake in BT Group, the UK’s largest telecom provider, from Altice, its largest shareholder. The acquisition, valued at approximately $4 billion, will be executed in two stages: an immediate purchase of 9.99% with the remaining 14.51% contingent on regulatory approval. Bharti's move is viewed as a significant endorsement of BT’s potential and the UK as an attractive investment destination, especially given Altice's struggles with debt and corruption allegations. BT CEO Allison Kirkby welcomed the investment, emphasizing the long-standing relationship between the two companies dating back to the late 1990s. This deal highlights Bharti's strategy to strengthen its foothold in the telecom sector amidst rapid technological advancements. Bharti has also applied for clearance under the UK National Security and Investment Act to ensure compliance with regulatory requirements.