Bharti Global Takes Giant Leap To Become BT Group’s Largest Shareholder With 24.5 Per Cent Stake Deal

Bharti Global, the international investment arm of Bharti Enterprises, is set to acquire a 24.5 per cent stake in the UK's BT Group, formerly known as British Telecom.

Bharti Enterprises, which owns Airtel, has entered into a binding agreement with billionaire Patrick Drahi’s Altice UK, the largest investor in BT Group, to purchase the shares through a combination of cash and debt.

The shares will be acquired through Bharti Televentures UK Ltd, a company established and wholly owned by Bharti Global. Bharti Televentures UK Ltd will immediately purchase a 9.99 per cent stake in BT's issued capital, with the remaining 14.51 per cent to be acquired following receipt of the necessary regulatory clearances.

This acquisition marks the Sunil Mittal-led company's second significant international venture, following its expansion into Africa in 2010. With this stake, Bharti will become the largest shareholder in BT.

Bharti and British Telecom (BT) share a longstanding relationship dating back over two decades. From 1997 to 2001, BT held a 21 per cent stake in Bharti Airtel and occupied two board seats.

"Today marks a significant milestone in Bharti Group’s history as we invest in BT, an iconic British company,” said Sunil Bharti Mittal, Chairperson of Bharti Enterprises, in a statement.

Bharti also clarified that it has no intention of making an offer to acquire control of Britain’s largest broadband and mobile firm, nor is it seeking a board seat.

The move to purchase a major stake in BT sparked widespread reactions on social media platform X. Prime Minister Narendra Modi posted, "I want Indian companies to become multinational. They should have their arms elsewhere too," in reference to the Bharti-BT deal.

Similarly, India’s High Commissioner to the UK, Vikram Doraiswami, posted on X, "This will support BT’s plans to build fibre, roll out 5G, and develop services.”