![](https://s3-eu-west-1.amazonaws.com/lacuna2/Mobile-News/thumbs/thumb_2024-08-Screenshot-2024-08-15-at-11.14.49.png)
Indian investment company Bharti Global has taken a 24.5 percent stake in BT Group worth £4 billion by buying all the BT stock owned by Altice UK.
Bharti Global is the key investment arm of India-based Bharti Enterprises, a conglomerate with interests in telecommunications, space, insurance, and other sectors. The company aims to leverage new technologies and expand its footprint in emerging markets.
Altice, owned by billionaire Patrick Drahi, had built up its BT stake since 2021. Then-Business Secretary Kwasi Kwarteng opened an investigation into the investment under the National Security and Investment Act but gave approval. The act allows ministers to scrutinize and possibly intervene in acquisitions if they believe it could pose a threat to national security.
![](http://cwpwp.betterthanpaper.com/wp-content/uploads/2024/08/shutterstock_769882576.jpg)
Drahi is a Moroccan-born French-Israeli billionaire and businessman. He is the founder and controlling shareholder of the Altice Group, a multinational telecommunications, content, media, and advertising company. Drahi’s business empire includes ownership of several major companies, including SFR, a leading telecom operator in France, and international media outlets such as the French newspaper *Libération* and *L’Express* magazine.
Allison Kirkby, Chief Executive, said, “We welcome investors who recognize 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.”
Joe Gardiner, Research Analyst at CCS Insight said the deal indicated. Alison Kirkby’s strategy of cost-cutting measures has resonated with investors, who have gone from shorting shares to having major international backers within a few months.
“BT’s announcement that it passed peak capital expenditure back in May will further encourage shareholders to invest, as BT is set to benefit from its Openreach program.
“Bharti Enterprises feels that BT’s increased focus and efficiency and the Vodafone-Three merger reducing industry competition, make it a good time to invest.”
He thought the government may want to investigate on national security grounds because of the scale of UK telecoms infrastructure controlled by BT.
“ Bharti should be confident of no issues given that the Vodafone-Three merger cleared a significant hurdle after UK government concerns over Three’s parent company CK Hutchinson’s were eased with just a few minor remedies.”