PRESS RELEASE: Bharti Global, the international investment arm of Bharti Enterprises, is set to acquire a 24.5% stake in the UK-based BT Group.
The $4 billion investment involves purchasing shares from Altice UK and will be executed by Bharti Televentures UK Ltd, a wholly-owned subsidiary of Bharti Global. Initially, Bharti Televentures will acquire a 9.99% stake in BT, with the remaining 14.51% contingent upon regulatory approvals.
Allison Kirkby, CEO of BT Group, stated, “We welcome investors who see the long-term value in our business, and this significant investment from Bharti Global is a strong endorsement of BT Group’s future and strategy. BT has had a long-standing relationship with Bharti Enterprises, and I’m pleased they share our vision for the future. They have a proven track record in the sector, and I look forward to positive collaboration in the coming years.”
Sunil Bharti Mittal, chairperson of Bharti Enterprises, commented, “This investment reflects our confidence in BT and the UK. BT has a strong portfolio of market-leading brands, high-quality assets, and an experienced management team with a clear strategy supported by the BT Board, which we fully endorse. Bharti and BT have a long-standing relationship—BT previously held a 21% stake and two board seats in Bharti Airtel Limited from 1997 to 2001.”