Sunday, 29 May 2022

BT prepares for battle as Altice increases stake

by Harry Baldock, Total Telecom
Tuesday 14 December 21

Billionaire Patrick Drahi’s Altice UK has announced today that it will increase its stake in BT from 12.1% to 18%, renewing takeover fears

Back in June, Patrick Drahi, the billionaire owner of Altice Group, announced that he had formed Altice UK, with the new company taking a 12.1% stake in BT for £2 billion. At the time, this move caused a wave of uncertainty for BT’s leadership, who feared that Drahi would launch a takeover bid for the company, something that Drahi himself denied interest in.  As per the law, Drahi would not be allowed to increase his stake in the company for the next six months…

Back in June, Patrick Drahi, the billionaire owner of Altice Group, announced that he had formed Altice UK, with the new company taking a 12.1% stake in BT for £2 billion. At the time, this move caused a wave of uncertainty for BT’s leadership, who feared that Drahi would launch a takeover bid for the company, something that Drahi himself denied interest in.  As per the law, Drahi would not be allowed to increase his stake in the company for the next six months…

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