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Bharti Global, the international investment arm of Bharti Enterprises, has completed its acquisition of approximately 24.5 per cent of the issued share capital of BT Group plc from Altice UK.
Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, expressed his enthusiasm for the partnership, stating, "We're delighted to have completed our investment into BT. Bharti has long recognised the enormous potential of the business. BT's renewed focus on optimisation, strengthening networks and driving consumer growth makes it well placed to consolidate its position as a leading global telecoms company that delivers long-term value for investors." The acquisition reflects Bharti's confidence in BT's strategic vision, particularly in areas such as network optimisation and consumer-driven innovations. The move has also drawn positive remarks from the UK government. The Department for Science, Innovation and Technology, through Secretary of State Peter Kyle, highlighted the importance of this partnership, noting on LinkedIn, "World-class telecoms infrastructure is an essential foundation of our economy and society. We are delighted that Bharti, a global telecoms leader, sees the value and potential of BT, a leading UK business." Bharti Enterprises, an Indian business conglomerate with interests spanning telecom, digital infrastructure, and space communications, sees this investment as a pivotal step in advancing global telecom collaboration. Allison Kirkby, Chief Executive, BT Group, stated, "As we said when Bharti announced their acquisition of Altice's stake in BT Group: 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," Kirkby added. The partnership is expected to foster innovation and connectivity, aligning with BT's position as a leader in the global telecom landscape. This investment further cements the robust economic relationship between the UK and India, emphasising the strategic role of cross-border partnerships in enhancing global connectivity and driving mutual growth. (ANI)
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