Bharti Enterprises to Acquire 24.5% Stake in BT Group for $4 Billion
Bharti Global, the global investment division of Bharti Enterprises, announced that it will buy a 24.5% stake in the UK telecommunications leader BT Group for approximately $4 billion.
The shares will be acquired through Bharti Televentures UK, a company fully owned by Bharti Global. This deal involves purchasing shares from Altice UK, a telecom firm founded by French entrepreneur Patrick Drahi. Once finalized, Bharti Global will become the largest shareholder in BT Group.
Sunil Bharti Mittal, Chairman of Bharti Enterprises, emphasized the longstanding connection between Bharti and BT. “Our relationship with BT spans over two decades, during which BT held a 21% stake in Bharti Airtel Limited and had two board seats from 1997 to 2001”, Mittal remarked. “This investment marks a pivotal moment for Bharti Group as we strengthen our ties with BT, a renowned British company. It also aligns with Prime Minister Narendra Modi’s vision to enhance and expand India-UK relations”.
The acquisition is set to create new opportunities for collaboration between the telecom industries of India and the UK, with a focus on artificial intelligence, 5G, research and development, and core engineering.
Shravin Bharti Mittal, Managing Director of Bharti Global, expressed optimism about BT’s future, saying, “We believe BT is well-positioned to lead in the telecom sector, especially in home broadband services”.
Bharti Global’s investment reflects its growing footprint in the UK. The company also invested in OneWeb, a space communications firm that merged with Eutelsat in 2023.
BT Group CEO Allison Kirkby welcomed the investment, stating, “This substantial investment from Bharti Global is a strong vote of confidence in BT Group’s strategy and future direction”.
Mittal further noted Bharti’s dedication to customer focus, digital innovation, and operational efficiency in its global telecom and broadband operations.