Indian telecoms conglomerate Bharti Global has acquired Patrick Drahi-controlled Altice UK’s stake in BT.

In a Stock Market announcement, BT Group said that it noted that Bharti Global has reached agreement to acquire c24.5 per cent of the issued share capital of BT Group from Altice UK.

Allison Kirkby, Chief Executive, 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.”

“BT has enjoyed a long association with Bharti Enterprises, and I’m pleased that they share our ambition and vision for the future of our business. 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.”

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Tags: altice, Bharti Global, bt