Bharti Global, the international investment arm of Indian conglomerate Bharti Enterprises, has agreed to acquire a 24.5% stake in BT Group plc from Altice UK.
The acquisition will occur in two phases: 9.99% will be purchased immediately, followed by the remaining 14.51% pending regulatory approvals. Bharti Televentures UK Ltd, a wholly-owned subsidiary of Bharti Global, will execute the transaction.
In a statement released by Bharti on Monday, the group said the deal underscores Bharti’s confidence in BT’s strategy and the UK’s investment climate, though Bharti has no plans for a full takeover.
This move builds on Bharti’s existing UK investments and its historical connection with BT, which held a minority stake in Bharti Airtel from 1997 to 2001.
“This investment demonstrates the confidence we have in BT and in the UK. BT has a strong portfolio of market leading brands, high-quality assets and an experienced management team with a compelling strategy mandated by the BT Board to deliver value over the long term, which we fully support,” said Sunil Bharti Mittal, Chair of Bharti Enterprises.
“Bharti and BT have enjoyed a longstanding relationship – BT previously owned a 21% stake along with two board seats in Bharti Airtel Limited from 1997 to 2001.
“BT is playing a vital role to expand access to full-fibre broadband infrastructure for millions of people across the UK. Its focus on strengthening its networks, driving consumer growth, and optimising every aspect of its business makes it well-placed to consolidate its position as a leading global telecoms company.”