Bharti Global has agreed to acquire a stake of around 24.5 per cent in BT Group.
The India-based company has bought the issued share capital from Altice UK.
Bharti Global will buy 10 per cent of BT’s shares from Altice immediately with the purchase following regulatory approval.
Allison Kirkby, chief executive, said, “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."
Bharti Global owns Bharti Airtel, a telecoms group operating across India and Africa.
Sunil Bharti Mittal, chair of Bharti Enterprises, said, “This investment demonstrates the confidence we have in BT and in the UK.“Our own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation, and operational efficiency at the heart of its business.”