Bharti Enterprises to Acquire 24.5% Stake in British Telecom
Indian Conglomerate Makes Significant Investment in UK Telecom Giant
Transaction Highlights Bharti's Growing Global Presence
NEW DELHI, India, February 27, 2023 - Bharti Enterprises, a leading Indian conglomerate, today announced its intention to acquire a 24.5% stake in British telecom giant BT Group. The transaction, valued at approximately £4.2 billion (US$5.1 billion), will make Bharti one of the largest shareholders in BT.
Bharti Global, the international investment arm of Bharti Enterprises, will acquire the stake from French media giant Altice. The investment is a significant vote of confidence in the UK telecommunications sector and BT's growth potential.
"This investment is a testament to Bharti's belief in the UK's continued strength as a leading global hub for technology and innovation," said Sunil Mittal, Chairman of Bharti Enterprises. "We are excited to partner with BT and contribute to its ongoing success."
The acquisition will further enhance Bharti's global reach and complement its existing telecom businesses in India and Africa. BT's presence in Europe and Latin America will provide Bharti with access to new markets and growth opportunities.
The transaction is subject to regulatory approvals and is expected to close in the second half of 2023.
Conclusion:
Bharti's acquisition of a stake in BT is a major milestone in the Indian conglomerate's global expansion strategy. The investment highlights the growing importance of the UK telecommunications sector and the confidence that international investors have in its long-term prospects. As Bharti and BT collaborate, the synergies between the two companies are expected to drive innovation and growth in the global telecommunications landscape.
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