Bharti Global's Landmark Stake in BT Group: Strategic Moves and Future Prospects

Bharti Enterprises Chairman Sunil Bharti Mittal announces a 24.5% stake in BT Group, making Bharti Global the largest shareholder. The investment signifies strategic progress without immediate operational changes in India. Collaboration with OneWeb and government support underscores future growth potential.

In a significant move, Bharti Global has acquired a 24.5% stake in BT Group from Altice UK, positioning itself as the single largest shareholder. Sunil Bharti Mittal, Chairman of Bharti Enterprises, highlighted the strategic nature of this investment, recalling similar past investments by Singtel and BT.

Timotheus Hottges, CEO of Deutsche Telekom, which holds a 12% stake in BT, expressed optimism about this development, citing a positive working relationship with Bharti. Without disclosing the investment size, Mittal emphasized that it's a valuable buy given the current market conditions in UK and European telecom sectors.

Mittal assured that this investment will not directly impact Bharti's telecom operations in India. However, he acknowledged potential for best practice exchanges. Discussing the satellite broadband venture, Mittal mentioned that approvals from DoT and TRAI are pending, but OneWeb is ready to provide satellite coverage across India and the SAARC region. Furthermore, he hinted at future investments, buoyed by recent tariff hikes, government support, and the success of 5G launches.

(With inputs from agencies.)