Bharti Global, the international investment division of Bharti Enterprises, has announced it will acquire approximately a 24.5% stake in British Telecom (BT) Group from Altice UK.
Transaction Details and acquisition phases
This purchase will be made through Bharti Televentures UK, a company fully owned by Bharti Global.
The total value of the transaction has not been disclosed, but industry estimates suggest it could be around USD 4 billion, based on BT’s valuation of about USD 15 billion.
The acquisition will occur in two phases: Bharti Televentures UK will initially buy a 9.99% stake, with the remaining 14.51% to be acquired after receiving regulatory approvals.
Strategic Goals and Partnership
Sunil Bharti Mittal, Chairman of Bharti Enterprises, highlighted the longstanding relationship between Bharti and BT, noting that BT previously held a 21% stake in Bharti Airtel and two board seats from 1997 to 2001.
Mittal emphasized that this investment supports the vision of strengthening India-UK ties and aims to foster collaboration in areas like AI and 5G technology.
Allison Kirkby, CEO of BT, welcomed the investment, viewing it as a strong endorsement of BT’s future and strategic direction. She looks forward to continued positive engagement with Bharti Global, which has a proven track record in the sector.
The investment is expected to enhance synergies between the telecom sectors of India and the UK, focusing on AI, 5G R&D, and core engineering.
On his announcement, Sunil Bharti Mittal, Chairman of Bharti Enterprises, stated:
Bharti and British Telecom (BT) have shared a strong bond for over two decades, during which BT held a 21 percent stake and two board seats in Bharti Airtel Limited from 1997 to 2001. Today represents a significant milestone for Bharti Group as we invest in BT, an iconic British company.