Bharti Global Acquires Substantial Stake in BT Group from Altice UK

Bharti Global, the investment division of Bharti Enterprises, will acquire a 24.5% stake in BT Group from Altice UK. The purchase, valued around $4 billion, will be made through Bharti Televentures UK. This strategic move aims to enhance synergies between India and UK in AI, 5G, and other technologies.

Bharti Global, the international investment arm of Bharti Enterprises, will acquire roughly 24.5 percent of BT Group from Altice UK, according to a release on Monday.

The shares will be purchased via Bharti Televentures UK, a company founded and wholly owned by Bharti Global.

Bharti stated, 'The international investment arm of Bharti Enterprises has finalized an agreement to acquire 24.5 percent of BT Group's capital issued by Altice UK.'

While the release did not specify the deal's size, market estimates place BT's valuation at around $15 billion, suggesting this transaction could be valued at about $4 billion.

The agreement indicates Bharti Televentures UK will imminently acquire 9.99 percent of BT Group's shares, with the remaining 14.51 percent pending regulatory approval.

Bharti anticipates that this investment will foster new synergies in the telecom sector between India and the UK, particularly in AI, 5G R&D, and other emerging technologies.

It's noteworthy that Bharti and BT share a history spanning over two decades.

Sunil Bharti Mittal, Chairman of Bharti Enterprises, remarked, 'Bharti and British Telecom enjoy a relationship spanning more than 20 years, during which BT owned a 21 percent stake in Bharti Airtel from 1997-2001. Today marks a significant milestone in Bharti Group's history with our investment in BT, an iconic British enterprise.'

(With inputs from agencies.)