Billionaire telecoms investor Patrick Drahi has increased his stake in dominant UK telco BT to 24.5 per cent from 18 per cent via his Altice UK investment unit – but reiterated that he does not plan a full takeover.

“Altice UK has restated its position to the board of BT that it does not intend to make an offer for BT,” the company said.

Drahi first took a 12.1 per cent stake in the telco in June 2021, upping this to 18 per cent in December 2021.

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