Bharti Enterprises, led by Sunil Mittal, has announced plans to acquire a 24.5% stake in Britain's BT Group (formerly British Telecom) for approximately $4 billion. This acquisition will be executed in two phases: initially, Bharti will acquire a 9.99% stake, followed by an additional 14.51% pending regulatory approvals.
This move will make Bharti Global, the international investment arm of Bharti Enterprises, the largest shareholder in BT Group, which is Britain's largest broadband and mobile company.
Interestingly, in 1997 British Telecom acquired a 21% stake in Bharti Airtel.
The acquisition reflects Bharti's confidence in BT's strategy and the stable business environment in the UK.
This move allows Bharti Enterprises to expand its global footprint, particularly in the European telecom market. It aligns with Bharti’s strategy to diversify its investments and strengthen its presence in international markets.
Bharti could possibly leverage BT’s advanced technologies, especially in areas like 5G, broadband, and IoT, to enhance its own service offerings.
To recall, recently in June, Carlos Slim, a Mexican business magnate, investor, and philanthropist, acquired a 3.2% equity stake in the BT Group.
BT Group plc (formerly British Telecom) has operations in around 180 countries and is the largest provider of fixed-line, broadband and mobile services in the UK, and also provides subscription television and IT services.
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