Bharti Enterprises to pick up 24.5% stake in UK’s British Telecom Group

Bharti Enterprises, led by billionaire Sunil Bharti Mittal, will buy a 24.5% stake in British Telecom Group Plc, the UK's largest mobile and broadband services provider, the companies said in a statement Monday. Bharti Televentures UK Ltd, a wholly owned subsidiary of Bharti Enterprises’s international investment arm Bharti Global, will buy the equity from telecom services provider Altice UK, which has a 24.5% stake in BT. Mittal said, “Bharti and BT have an enduring relationship going back more than two decades, wherein BT owned a 21% stake along with two board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group’s history as we invest in BT, an iconic British company.” “This investment in BT aims to support the commitment of our hon’ble prime minister towards his vision in elevating and broadening the India-UK ties.