Bharti Global Acquires 24

Bharti Global, an affiliate of Indian conglomerate Bharti Enterprises, is acquiring a 24.5% stake in BT Group Plc from shareholder Altice UK. Bharti, founded by Sunil Bharti Mittal, stated they have no plans to pursue a complete takeover of BT. This investment is part of Bharti`s global expansion strategy, following investments in Africa and the UK-based satellite company OneWeb. The deal involves purchasing shares previously held by Altice UK, part of billionaire Patrick Drahi`s telecommunications group, which has been divesting assets to reduce debt. BT, the UK`s largest telecom operator, has experienced a decline in share price in recent years but is undergoing a cost-cutting plan under new CEO Allison Kirkby.