In order to gain traction in the British telecom market, Bharti Enterprises plans to purchase a 24.5% share in BT Group PLC, a significant player in the British telecom industry. The UK-based fixed and mobile communications operator BT Group plc will receive 24.5% of its issued share capital from Altice UK, according to a Monday stock market filing by Bharti Global, the worldwide investment arm of Bharti Enterprises.
Telecom and media conglomerate Altice Europe includes Altice UK.
The shares will be bought by Bharti Global-owned Bharti Televentures. A 9.99 percent interest will be purchased immediately, with the remaining 14.51 percent stake bought when the necessary regulatory permissions are obtained.
Bharti expects that this strategic investment would assist to build new synergies in the telecom sector between the two nations in areas such as artificial intelligence (AI), 5G research and development, and core engineering, among others.
"Bharti and British Telecom (BT) have a lengthy history dating back more than two decades, with BT owning a 21% investment and two board seats in Bharti Airtel Limited from 1997 to 2001. Today marks a watershed moment in Bharti Group's history, as we invest in BT, a historic British company.
This investment in BT intends to promote our Hon'ble Prime Minister's (Narendra Modi) goal of elevating and strengthening India-UK connections," Bharti Enterprises Chairman Sunil Bharti Mittal stated.
The BT Group offers fixed, mobile, and integrated connection solutions to consumers, small, medium, and large enterprises, public sector organizations, and other communication service providers. This comprises internet, mobile, television, networking, and information technology (IT) services. The company offers a diverse range of products and services, including phones, gambling, and insurance. They analyze worldwide investment potential in technology, including digital infrastructure and software. We are familiar with BT thanks to our long affiliation with Bharti, and we are excited about the potential to purchase a large investment in the firm.
"We believe that BT is poised for leadership in the telecom arena, particularly in home broadband services," stated Shravin Bharti Mittal, Managing Director of Bharti Global.
Mittal also founded Unbound, a long-term global technology investment fund.
Bharti Global has a strong track record of long-term investments in the United Kingdom, including the revival of Bharti Enterprises-backed satellite communications business OneWeb. It will join with French satellite operator Eutelsat in 2023.
