Indian Billionaire acquires a significant stake in BT Group
Bharti Enterprises, owned by Indian billionaire Sunil Bharti Mittal, has agreed to buy a 24.5% stake in BT Group from Altice UK.
The deal, which values BT at around £12.5 billion, will see Bharti become the largest shareholder in the UK telecoms giant.
The acquisition is a major move for Bharti, which is one of India's largest telecoms companies. BT is one of the UK's leading telecoms providers, with a strong presence in both the consumer and business markets.
The deal is expected to close in the second half of 2023, subject to regulatory approvals.
Comments