In a major move, Indian corporation Bharti Global announced its acquisition of a 24.5% stake in British telecommunications giant BT Group. This investment is seen as a significant vote of confidence in BT by the Indian company, as well as a reflection of increasing Indian investment abroad. This comes on the heels of other recent acquisitions by Indian businesses, including Bharti Enterprises selling shares in ICICI Lombard and Brookfield India REIT acquiring a stake in Bharti Assets.
Bharti Enterprises, led by Aditi Khanna, has invested in BT Group, acquiring a 24.5% stake in the UK-based telecommunications company. This move is seen as a "great vote of confidence" in the growth of 5G in India, as Bharti and BT Group have previously collaborated on 5G trials. Concerns over tariff hikes and delays in 4G and 5G adoption in India have been eased with this investment. Additionally, Nokia has achieved a record 1.2 Gbps 5G speed in a trial with Airtel, while BSNL has launched a 4G and 5G-ready SIM platform. UK businesses have also reacted positively to India's Union Budget, showing strong potential for future collaborations.
Bharti Global, the international investment arm of Bharti Enterprises, has announced the acquisition of a 24.5% stake in BT Group from Altice UK. This makes the Indian conglomerate the biggest shareholder in the UK's second-largest telecom company, surpassing both market value and subscriber count. The deal, which is estimated to be around $4 billion, will be made through a combination of cash and debt, but Bharti has no intention of acquiring a board position.
Indian telecommunications company Bharti Global, led by Sunil Bharti Mittal, has acquired a 24.5% stake in BT Group, making it the largest shareholder in the UK-based telecom giant. This deal solidifies Bharti's position in the UK market and marks their first major investment in a developed market. Bharti's long-term strategic approach to the deal highlights the potential for future growth and synergy opportunities, and has been praised by Indian Commerce and Industry Minister Piyush Goyal.