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Michele Maatouk Sharecast News
19 Nov, 2024 12:42

BT Group gains as Bharti completes acquisition of 24.5% stake

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BT GroupSharecast graphic / Josh White

BT Group

147.80p

15:00 19/11/24
2.11%
3.05p

BT Group gained on Tuesday after India’s Bharti Global completed the acquisition of a 24.5% stake in the telecoms company from France’s Altice.

Fixed Line Telecommunications

2,031.24

15:00 19/11/24
0.37%
7.40

FTSE 100

8,068.65

15:00 19/11/24
n/a
n/a

FTSE 350

4,451.69

15:00 19/11/24
n/a
n/a

FTSE All-Share

4,409.64

15:00 19/11/24
n/a
n/a

BT announced in August that Bharti had reached an agreement to buy the stake from Altice.

Chief executive Allison Kirkby said at the time: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy.

"BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come."

At 1240 GMT, BT shares were up 1.5% at 146.96p.

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