Bharti Enterprises to Acquire 24.5% Stake in BT Group from Altice UK

Bharti Enterprises has announced plans to acquire a 24.5% stake in BT Group from Altice UK, marking a significant investment in the British telecommunications sector. The acquisition will be executed through Bharti Global and is structured in two phases: an immediate purchase of a 9.99% stake and a subsequent acquisition of a 14.51% stake pending regulatory approvals.

The deal underscores Bharti Enterprises’ confidence in BT Group and the UK market. Sunil Bharti Mittal, Chair of Bharti Enterprises, highlighted BT’s strong market position, quality assets, and robust management team. “This investment reflects our belief in BT’s long-term value and the UK’s stable business environment,” Mittal said.

Bharti Global, the international investment arm of Bharti Enterprises, focuses on telecommunications, technology, digital infrastructure, and space communications. Notable investments include OneWeb, a space communications company that merged with Eutelsat in 2023.

Altice UK, owned by telecoms magnate Patrick Drahi, had acquired its stake in BT in 2021. However, Drahi’s group is currently grappling with substantial debt. Bharti Enterprises’ acquisition comes as Altice UK seeks to offload its holdings amidst financial pressures.

The transaction will involve Bharti Televentures, a subsidiary of Bharti Global, which will immediately acquire the 9.99% stake. The remaining 14.51% will be purchased once the necessary regulatory clearances are obtained. Bharti Enterprises is also applying for clearance under the UK National Security and Investment Act.

Despite the significant investment, Bharti has stated that it will not seek a board seat at BT. The shares are being purchased at a market price that has recently fluctuated between 130 and 142 pence.

This investment builds on Bharti’s historical ties with BT, which was a minority shareholder in Bharti Airtel from 1997 to 2001. Bharti Enterprises’ latest move reinforces its longstanding commitment to the UK market and its strategic interest in BT’s future growth.