UK Government Signals Opposition to Bharti Chairman Taking Control of BT
By
Mark Jackson
Hot, fresh, and worth queueing round the block for.
Summary
UK Government officials have signaled they would oppose any attempt by Bharti Group chairman Sunil Bharti Mittal to take control of BT by increasing his stake beyond the current 24.95%. Bharti Global acquired a 24.5% stake in BT from French billionaire Patrick Drahi's Altice UK in 2024 for approximately £3.6 billion. The government's stance reflects national security concerns over foreign ownership of critical UK telecommunications infrastructure.
Key quotes
· 2 pulledOfficials within the UK Government have reportedly sent their strongest signal yet that they'd oppose any move by the boss of the India-based Bharti group, Sunil Bharti Mittal, to take control of UK broadband and telecoms giant BT by increasing his stake above the current level of 24.95%.
Bharti Global (via Bharti Televentures UK Ltd), the Indian multinational conglomerate, agreed to acquire French billionaire Patrick Drahi's (Altice UK) stake of 24.5% (issued share capital) – worth around £3.6bn at the time – in the BT Group
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