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Bharti Acquires Altice’s Stake In BT; Indicates No Desire For A Full Takeover

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BT Profile: BBB/BBB


Bharti buying Altice’s stake in BT; there has long-been speculation around a potential stake sale by cash-strapped Altice so this could potentially remove an overhang there. The document no mention of a price while Bharti have indicated that they don’t intend to seek a controlling position and would likely face significant regulatory roadblocks were they to attempt to so this seems credit neutral for BT and positive for Altice.


  • Bharti Global is acquiring a 24.5% stake in BT, starting with a 9.99% share purchase, with the remaining 14.51% pending regulatory approval.
  • Bharti indicates no intention to make a full takeover bid for BT under the UK Takeover Code.
  • Bharti’s previous ties with BT include BT’s 21% stake in Bharti Airtel from 1997-2001).

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