Bharti Enterprises, helmed by Bharti Enterprises, recently announced its acquisition of a 24.5 per cent stake in British Telecom Group Plc (BT), which is the United Kingdom’s largest mobile and broadband services provider.
This recent development was carried out through Bharti Televentures UK Ltd, a subsidiary of Bharti’s global investment arm. Moreover, this also marks a major steps in the company history, entering into one of the world’s most established telecom markets.
— Bharti Enterprises (@bhartinews) August 12, 2024
About the deal
Although, the exact financial details of the deal remain under wraps, as per market analysts, it is estimated to be valued at approximately USD 4 billion, given BT’s market valuation of around USD 15 billion.
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Furthermore, the purchase will occur in two stages: an initial 9.99 per cent stake will be acquired immediately, with the remaining 14.51 per cent following the necessary regulatory approvals.
In addition, it is to be noted that this recent investment, however, is entirely separate from Bharti Airtel, Bharti Enterprises’ flagship telecom company in India.
Congratulations to Bharti Enterprises on their landmark move to acquire a 24.5% stake in BT Group.
This significant leap not only expands India’s global footprint in the telecom ecosystem but also aligns with PM Sh @narendramodi Ji’s vision of elevating India’s presence on the…
— Jyotiraditya M. Scindia (@JM_Scindia) August 13, 2024
The company in a statement releases on Monday said, “The shares will be purchased through Bharti Televentures UK Ltd – a company established and wholly owned by Bharti Global. Bharti Televentures UK Ltd has entered into a binding agreement with Altice UK to acquire 9.99 per cent stake of BT Group’s issued capital imminently with the balance 14.51 per cent of BT’s share capital to be acquired following receipt of applicable regulatory clearances.”
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From 1997 to 2001, BT held a 21 per cent stake in Bharti Airtel, and now, with this new announcement by the company, it is expected to explore synergies in cutting-edge areas such as artificial intelligence (AI), 5G research and development, and core engineering.
“I want Indian companies to become multinational. They should have their arms elsewhere too” – PM @NarendraModi ji
With Bharti Enterprises entering into a binding agreement to acquire a 24.5 % strategic stake in the UK’s BT Group, the wheel has come full circle since 1997 when…
— Piyush Goyal (@PiyushGoyal) August 12, 2024
“This investment in BT aims to support our hon’ble prime minister’s vision in elevating and broadening India-UK ties. Bharti’s own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation, and operational efficiency at the heart of its business,” added Sunil Bharti Mittal.
