Bharti Global Completes Acquisition of 24.5% of BT Group From Altice UK

Bharti Airtel, one of the biggest telecom providers in India, has led the way in the sector’s technological developments. Millions of people throughout the region have been connected thanks in large part to Airtel’s extensive network coverage and cutting-edge services. Airtel’s rollout of 5G technology has further transformed communication and information access, opening the door to a more digital and connected future. 

In the BT Group, Bharti Global purchased a 24.5% share

Bharti Enterprises’ international investment division, Bharti Global, has formally purchased a 24.5% share in BT Group, the second-biggest telecom provider in the UK, from Altice UK. Bharti now owns the majority of the British telecom behemoth, marking a major milestone in the company’s international telecom expansion, thanks to the deal, which is estimated to be worth USD 4 billion.

Sunil Bharti Mittal, the chairman, said

The chairman of Bharti Enterprises, Sunil Bharti Mittal, has long recognized the enormous potential in BT, and this investment reflects his confidence in the company’s strategic direction. He expressed optimism about the future of BT, praising the company’s renewed focus on network optimization and consumer growth, and said that BT is well-positioned to consolidate its position as a leading global telecom player, offering long-term value to investors.

Allison Kirkby, CEO of BT Group, is pleased with the deal

The CEO, Allison Kirkby, welcomed Bharti’s increased stake, pointing to the company’s strong track record of success in the telecom industry. In a statement, BT Group acknowledged the significance of Bharti’s investment, calling it a vote of confidence in the company’s future. She was excited about the continued partnership and looked forward to a constructive and cooperative relationship with Bharti in the years to come.

Following a long-standing association, the acquisition highlights the strengthening ties between Bharti Enterprises and BT Group. Now that the deal is finalized, Bharti’s strategic involvement in BT’s future is expected to significantly shape the company’s competitive edge in the global telecom market.

Today, Bharti Airtel’s stock price is up 1%

The stock of Bharti Airtel is currently trading at Rs. 1,548.95 per share, up 1% today, and is gradually approaching its 52-week high of Rs. 1,779.00.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.