Bharti Global acquires strategic 24.5% stake in UK's BT Group

Srinagar, Aug 12: Bharti Global, the international investment arm of Indian business conglomerate Bharti Enterprises, has reached an agreement to acquire a significant 24.5% stake in BT Group plc from Altice UK S.à r.l. The acquisition will be made through Bharti Televentures UK Ltd, a wholly-owned subsidiary of Bharti Global.

The deal involves an initial purchase of a 9.99% stake, with the remaining 14.51% to be acquired following regulatory clearances. This investment marks a milestone in the two-decade-long relationship between Bharti and BT, which began in 1997 when BT acquired a 21% stake in Bharti Airtel.

This strategic move aims to strengthen India-UK bilateral ties, aligning with the Indian government's vision for enhanced international partnerships. Bharti anticipates new synergies in the telecom sector, particularly in areas such as AI, 5G R&D, and core engineering, offering potential for collaboration on industry best practices and emerging technologies.

The investment follows the recent announcement of the UK-India Technology Security Initiative during the UK Foreign Secretary's visit to India. This initiative aims to expand collaboration in critical and emerging technologies across priority sectors, including telecommunications.

Bharti Global's acquisition not only reinforces its position in the global telecom sector but also potentially opens new avenues for technological cooperation between India and the UK, further solidifying the economic ties between the two nations.