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What will be the impact of Bharti's investment on BT Group's stock price by the end of 2024?
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Story
Bharti Acquires 25% Stake in BT Group, Becomes Biggest Shareholder for $4 Billion
Aug 12, 2024, 07:42 AM
Bharti Enterprises, owned by Indian tycoon Sunil Mittal, has agreed to acquire a 25% stake in BT Group from Altice UK, the investment vehicle of telecoms tycoon Patrick Drahi. The deal, valued at approximately $4 billion, will make Bharti the biggest shareholder in BT, a major British broadband and mobile company. This investment is expected to support BT's plans to expand its fiber network, roll out 5G services, and enhance its overall telecommunications offerings. The acquisition also marks a significant move for Bharti as it seeks to expand its international footprint. Notably, BT had previously owned a stake in Bharti, highlighting the cyclical nature of business investments.
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