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Market
Will Bharti complete the acquisition of a 24.5% stake in BT Group by the end of 2024?
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Resolution / Starting Odds
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Official announcements from Bharti Enterprises or BT Group, financial news outlets
Story
Bharti to Become Largest Shareholder in BT with $4B Stake Acquisition from Patrick Drahi
Aug 12, 2024, 09:49 AM
Bharti Enterprises, led by Indian billionaire Sunil Mittal, has agreed to acquire a 24.5% stake in the UK-based telecommunications giant BT Group from Altice UK, owned by telecom tycoon Patrick Drahi, for approximately $4 billion. This acquisition will make Bharti the largest shareholder in BT, a move that aligns with its strategic expansion plans and aims to bolster BT's efforts in building fiber networks, rolling out 5G, and enhancing services. The deal signifies a major investment in a prominent British company and reflects Bharti's ambition to expand its global telecom footprint. Following the announcement, BT shares rose, indicating positive market reception.
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