Bharti Group To Acquire Upto 24.5% Stake In British Telecom

Aimed at creating new synergies in the telecom sector between India and the United Kingdom in the areas of artificial intelligence and 5G research and development, Bharti Global, the international investment arm of Bharti Enterprises, has notified about acquiring a 24.5 per cent stake in British Telecom Group from Altice UK.

The official statement from the company read, “Bharti Global has reached an agreement to acquire an interest in 24.5 per cent of the issued share capital of BT Group plc from Altice UK.”

Bharti Televentures UK, a company established and wholly owned by Bharti Global, will take care of the purchasing of shares. The company is set to acquire a 9.99 per cent stake of BT Group’s issued capital imminently as per the binding agreement with Altice UK. The remaining 14.51 per cent of BT’s share capital is set to be acquired after the receipt of regulatory clearances, according to the statement issued by the company.

The company has aimed the investment at offering great potential to collaborate on industry best practices and emerging technologies. In 1997, BT acquired a 21 per cent stake in Bharti Airtel and now Bharti has notified about the acquisition in the British company, providing a boost to India-UK bilateral partnership.

Sunil Bharti Mittal, Chairman of Bharti Enterprises said, “Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned 21 per cent stake along with two board seats in Bharti Airtel from 1997-2001. Today marks a significant milestone in Bharti Group’s history as we invest in BT- an iconic British company.”