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Bharti Global to buy 25% in British Telecom
The New Indian Express
|August 13, 2024
Bharti says this investment will further help create new synergies in the telecom sector between both countries
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BHARTI GLOBAL, the international investment arm of Bharti Enterprises, will purchase 24.5% stake in British Telecom Group, the UK's largest mobile and broadband services provider, for an undisclosed amount.
The shares will be acquired via Bharti Televentures UK Ltd, a wholly-owned subsidiary of Bharti Global.
It has entered a binding agreement with Altice UK to acquire 9.99% stake in BT Group's issued capital immediately, with the remaining 14.51% stake to be acquired after receiving regulatory clearances.
The news of stake sale saw British Telecom shares zooming 7% to 140 pound a piece. Bharti Airtel share prices on Monday closed at 1,463.4, down 70 paise from the previous close.
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