Bharti Global to Acquire 24.5% Stake in BT Group
Major Investment by Indian Tech Giant
Bharti Global, the investment arm of India's Bharti Enterprises, has agreed to purchase a 24.5% stake in the British telecommunications giant BT Group. The deal is valued at approximately £32 billion ($41 billion).
The acquisition will make Bharti Global the largest shareholder in BT Group, ahead of the current largest shareholder, Deutsche Telekom, which holds a 12% stake. The deal is expected to close in early 2024, subject to regulatory approvals.
Bharti Global's entry into BT Group marks a significant investment by an Indian company in a major UK company. The deal is expected to further strengthen the ties between the two countries and boost trade and investment opportunities.
BT Group's shares rose on the news of the acquisition, with the company's value increasing by £5 billion in the first hour of trading.
The deal is seen as a significant move by Bharti Global, which is looking to expand its global presence in the telecommunications sector. The company has been investing heavily in recent years, acquiring stakes in telecoms companies in Africa, Asia, and the Middle East.
Bharti Global's investment in BT Group is a testament to the growing strength of the Indian economy and the increasing global reach of Indian companies.
Comments