Mexican billionaire Carlos Slim takes 3.2% stake in BT Group

Mexican billionaire Carlos Slim has taken a 3.2% stake in BT Group.

According to a regulatory filing late on Wednesday, the stake - worth around £400m - was taken by Slim’s family business Inbursa.

A BT spokesman told the Telegraph: "We welcome any investor who recognises the long-term value of our business.

"We have frequent communication with all of our shareholders and meet with major investors on a regular basis. We look forward to engaging with Inbursa, just as we do with all investors."

At 1215 BST, the shares were up 2.6% at 132.79p.

Russ Mould, investment director at AJ Bell, said: "This could be taken as an endorsement of recently appointed chief executive Allison Kirkby’s new strategy for the group."