Bharti Global Strengthens Stake in BT Group with Strategic Acquisition

Bharti Global, the investment arm of Bharti Enterprises, has acquired a 24.5% stake in BT Group plc from Altice UK. This partnership highlights Bharti's confidence in BT's strategic vision, focusing on network optimization and consumer-led innovations, gaining positive attention from the UK government.

Bharti Global, acting as the international investment division of Bharti Enterprises, has successfully acquired approximately 24.5% of the issued share capital of BT Group plc, previously held by Altice UK. Sunil Bharti Mittal, the Founder and Chairman of Bharti Enterprises, expressed enthusiasm regarding the venture, stating, "We're delighted to have completed our investment into BT. Bharti has long recognized the enormous potential of the business. BT's renewed focus on optimization, strengthening networks, and driving consumer growth makes it well placed to consolidate its position as a leading global telecom company delivering long-term value for investors."

This acquisition demonstrates Bharti's trust in BT's strategic outlook, particularly concerning network optimization and consumer innovations. The initiative has received favorable comments from the UK government. Peter Kyle, Secretary of State for the Department for Science, Innovation and Technology, remarked on LinkedIn about the importance of this collaboration, stating, "World-class telecom infrastructure is an essential foundation of our economy and society. We are delighted that Bharti, a global telecom leader, sees the value and potential of BT, a leading UK business."

Bharti Enterprises, an Indian conglomerate with interests in telecom, digital infrastructure, and space communications, views this investment as pivotal in advancing global telecom partnerships. Allison Kirkby, BT Group's Chief Executive, commented, "As we said when Bharti announced their acquisition of Altice's stake in BT Group: We welcome investors who recognize the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy." This partnership aims to foster innovation and connectivity, enhancing BT's leadership role in the global telecom arena.

(With inputs from agencies.)