Billionaire Drahi’s Altice raises stake in BT to 18%

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Altice, a telecommunications investor dominated by billionaire Patrick Drahi, said it could raise its stake in BT to 18% and eventually try to dominate the former UK phone monopoly. I am raising expectations.

Dry said on Tuesday that he was “constructively involved with BT’s board and management,” and was looking forward to continuing the dialogue.

The government issued a statement shortly after the stake was raised, saying it was “carefully” monitoring the post-relocation situation. “The government has promised to upgrade the country through digital infrastructure and will not hesitate to act when necessary to protect the telecommunications infrastructure of critical countries.”

The government quoted the National Security Investment Act, which is due to come into force in January.

BT has issued a statement that it will continue its business “for the benefit of all shareholders.”

Dry’s BT stakebuilding marks the starting point for investors and entrepreneurs. Entrepreneurs are best known for managing undervalued telecommunications assets through the purchase of debt and partially selling them.

BT’s stake, built through a new UK holding company, was previously just over 12% after being surprised that Dry made the UK company its largest shareholder. June With an investment of £ 2 billion.

Dry reiterated that he did not intend to make an offer to the UK telecommunications group, but things have changed, such as when a third party announces his intention to make an offer to the group or when Artis agrees with the BT board. He said it could change if he did. ..

BT shares, which have risen by more than a fifth so far this year, fell 3.6% in early trading.

In a statement, Dry said of BT’s management: It is a very important investment program for both BT and the UK. ”

Billionaire Drahi’s Altice raises stake in BT to 18% Source link Billionaire Drahi’s Altice raises stake in BT to 18%

The post Billionaire Drahi’s Altice raises stake in BT to 18% appeared first on California News Times.

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