Bharti Global, the international investment arm of Bharti Enterprises (Bharti), has completed the acquisition of a 24.5 percent stake in the UK's BT Group plc from Altice UK. With this investment, Bharti, whose telecom portfolio includes India's second-largest telecom company, Bharti Airtel, is now the majority shareholder of BT Group.
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Bharti Global's Investment in BT Group
"We're delighted to have completed our investment into BT. Bharti has long recognised the enormous potential of the business. BT's renewed focus on optimisation, strengthening networks and driving consumer growth makes it well placed to consolidate its position as a leading global telecoms company that delivers long-term value for investors," said Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, in a statement.
Bharti hopes that this investment will help create new synergies in the telecom sector between both countries, particularly in areas such as AI, 5G R&D, and core engineering, among others, offering a great potential to collaborate on industry best practices and emerging technologies.
Bharti's Continued Partnership with BT Group
"This scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy," said Allison Kirkby, Chief Executive, in a separate statement in August. "BT has enjoyed a long association with Bharti Enterprises, and I’m pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come."
Also Read: Bharti Global to Acquire Around 24.5 Percent Stake in BT Group from Altice UK
Earlier in August, Bharti Group had announced its strategic investment to acquire a 24.5 percent stake in the UK's British Telecom (BT Group).
