Bharti will become BT's biggest shareholder after buying a 25%, $4B stake from Altice
Altice USA(ATUS) TechCrunch·2024-08-12 15:40
BT, the U.K.’s former incumbent telecoms carrier, is picking up a major new investor today as telecoms companies look for stronger footing in the rapidly-shifting technology and communications market. Bharti, the Indian tech and telecoms giant that owns Airtel among other assets, said it would purchase a 24.5% stake currently owned by Altice. Based on BT’s market cap of around £13 billion ($16 billion) the time of the deal, this values the stake at around $4 billion. Bharti said in a statement that it would ...