Bharti Global Acquires 24.5% Stake in UK’s BT Group: A Major Milestone
New Delhi [India], August 12: Union Commerce Minister Piyush Goyal announced that Bharti Global has acquired a 24.5% stake in Britain’s BT Group from Altice UK. This acquisition makes Bharti Global the largest shareholder in BT Group, the UK’s leading fixed and mobile communications provider.
Goyal stated, “This acquisition is testimony to the growing strength of India as we march towards Viksit Bharat under the inspirational leadership of PM Modi ji.” He also thanked UK Prime Minister Keir Starmer and Foreign Secretary David Lammy for their support in strengthening business ties between the two countries.
Sunil Bharti Mittal, Chairman of Bharti Enterprises, highlighted the strategic importance of this investment, noting that similar strategic blocks have been acquired in the past. He mentioned that the investment is attractive due to the low trading multiples of UK and European telecom companies, making it a good long-term investment.
The size of BT Group is 21 billion pounds with sales revenue of about USD 25 billion. Mittal assured that the investment will not directly impact Bharti’s telecom operations in India but will allow for the sharing of best practices. He also mentioned that while there are no immediate global expansion plans, it cannot be ruled out in the future.
Doubts Revealed
Bharti Global -: Bharti Global is a part of Bharti Enterprises, an Indian business group. They do many things like telecom, insurance, and real estate.
24.5% Stake -: A 24.5% stake means owning almost one-fourth of a company. It gives Bharti Global a big say in how the company is run.
UK’s BT Group -: BT Group is a big company in the United Kingdom that provides internet and phone services.
Union Commerce Minister -: The Union Commerce Minister is a government official in India who looks after trade and business matters. Right now, it’s Piyush Goyal.
Piyush Goyal -: Piyush Goyal is an Indian politician who works for the government. He helps make decisions about trade and business.
PM Modi -: PM Modi is Narendra Modi, the Prime Minister of India. He is the leader of the country and makes important decisions.
Sunil Bharti Mittal -: Sunil Bharti Mittal is the Chairman of Bharti Enterprises. He is a very important businessman in India.
Strategic Importance -: Strategic importance means something that is very important for future plans and goals.
Telecom Operations -: Telecom operations are activities related to providing phone and internet services.
