In a surprise development, Bharti Global, the Indian multinational conglomerate, has this morning formally agreed to acquire French billionaire Patrick Drahi’s (Altice UK) stake of 24.5% (issued share capital) in national broadband and telecoms giant BT Group.
The move comes only a couple of months after the richest man in Latin America, Carlos Slim, became one of BT’s largest shareholders after he took a 3.2% stake in the company (here), which at the time was said to be worth around £400m. BT’s other major shareholders include T-Mobile Holdings Ltd. (aka – Deutsche Telekom) on 12%, BNP Paribas (Suisse) SA on 10.8% and Schroder Investment Management Ltd. on just 2.12% etc.
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