Bharti Global, the international investment arm of Bharti Enterprises, has announced the completion of its acquisition of a 24.5% stake in BT Group, the UK’s second-largest telecom company, from Altice UK.
The deal estimated to be worth $4 billion, positions Bharti as the majority shareholder in BT Group, formerly known as British Telecom.
Sunil Bharti Mittal, Chair of Bharti Enterprises, said, “We’re delighted to have completed our investment into BT. Bharti has long recognised the enormous potential of the business. BT’s renewed focus on optimisation, strengthening networks and driving consumer growth makes it well placed to consolidate its position as a leading global telecoms company that delivers long-term value for investors.”
CEO Allison Kirkby, said, “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.”
