Bharti Enterprises announced on Monday that it has reached an agreement to acquire a 24.5% stake in telecommunications giant BT Group PLC, marking a significant move as the Indian conglomerate aims to bolster its global footprint.
Initial Acquisition and Future Plans
Bharti Televentures UK Ltd., a newly established entity by Bharti to facilitate the acquisition, will initially purchase a 10% stake in BT from Altice UK Sàrl, a subsidiary of French telecommunications and media conglomerate Altice Europe N.V. The remaining 14.5% will be acquired once regulatory approvals are obtained. Bharti has not disclosed the financial details of the transaction but noted that it is seeking clearance from the U.K. government under the National Security and Investment Act 2021.
Strategic Investment and Advisory Team
Sunil Bharti Mittal, chair of Bharti Enterprises, emphasized that the planned investment underscores the company’s confidence in BT’s strategic direction. “BT’s focus on strengthening its networks, driving consumer growth, and optimizing every aspect of its business makes it well-placed to consolidate its position as a leading global telecoms company,” Mittal said.
