English
Arabic
Chinese (Simplified)
Russian
Spanish
Urdu
Srinagar : Bharti Global, the international investment arm of Bharti Enterprises (Bharti), a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in c.24.5% of the issued share capital of BT Group plc from Altice UK S.à r.l (Altice UK).
The shares will be purchased through Bharti Televentures UK Ltd – a company established and wholly owned by Bharti Global. Bharti TeleventuresUK Ltd has entered into a binding agreement with Altice UK to acquire c.9.99% stake of BT Group’s issued capital imminently with the balance c.14.51% of BT’s share capital to be acquired following receipt of applicable regulatory clearances.
Bharti and BT have an enduring relationship going back more than two decades. In 1997, BT acquired a 21% stake in Bharti Airtel and today marks a significant milestone in Bharti’s history as it acquires a stake in the iconic British Company – BT, thereby, strengthening the India-UK bilateral partnership.
This investment in BT aims to support the commitment of our Hon’ble Prime Minister towards his vision in elevating and broadening the India-UK ties*.
Bharti hopes that this investment will further help create new synergies in the telecom sector between both countries in the areas of AI and 5G R&D and core engineering amongst others, offering great potential to collaborate on industry best practices and emerging technologies.
During the recently concluded visit of UK Foreign Secretary, Rt. Hon David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including Telecom.
ADVERTISEMENT
