Indian Conglomerate Bharti Enterprises Acquires Stake in BT for $4 Billion
India’s Bharti Enterprises has announced the acquisition of a 24.5% stake in BT, worth 3.2 billion pounds ($4 billion), to buy out the British company’s top investor Patrick Drahi. The move makes Bharti one of BT’s key strategic shareholders as the telecom giant aims to boost profits under new CEO Allison Kirkby.
Bharti, known for its Bharti Airtel brand operating in 17 countries, expressed support for BT’s transformation program focused on long-term sustainable growth through the development of the country’s fibre network. The deal sent BT shares up by 6% and will undergo government scrutiny for national security clearance.
Bharti’s billionaire founder, Sunil Bharti Mittal, emphasized the company’s long-term investment approach, focusing on the telecom sector. While BT’s shares have seen recent recovery, the deal marks an important milestone for the company’s future direction.
Overall, Bharti’s investment signals confidence in the UK’s business environment and could pave the way for further cooperation between BT and Bharti in the telecom industry.
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