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Bharti Group’s purchase of a 24.5% stake in BT, a telecom service provider in the UK has been approved by the British government. Bharti Group had acquired shares worth 3.2 billion pounds in BT. Following this, BT will now set up a national security committee inside the company whose role would be to oversee if their activities have an impact on the national security.
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As per Reuters, the government said that this measure will mitigate the risk to national security. For the unaware, BT is a strategic supplier of varied services to many parts of the government, including the ones that are concerned with the UK’s national security. Bharti has already clarified that it has no intention of buying a major stake or the whole company.
Bharti Group has extended its branches in many countries apart from India including Africa, the UK, Bangladesh, and Sri Lanka. India is still the primary market for the group as Airtel India is the cash cow that generates most of the profits.
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