Bharti will become BT’s biggest shareholder after buying a 25%, $4B stake from Altice

Quick Summary:

BT, the U.K.’s former incumbent telecoms carrier, is picking up a major new investor today as telecoms companies look for stronger footing in the rapidly-shifting technology and communications market.

Bharti, the Indian tech and telecoms giant that owns Airtel among other assets, said it would purchase a 24.5% stake currently owned by Altice.

Airtel, Bharti’s mobile carrier, is in hot competition with Jio at home in what many consider a duopoly, so investing abroad gives Bharti more diversification.

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Article Details

Author / Journalist: Ingrid Lunden

Category: Technology

Markets: United StatesChinaIndiaTurkey

Topics: Bharti BT group Enterprise Telecoms

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-12 @ 07:40:15 (15 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1179 words

Reading Time: 7 minutes read

Sentences: 41 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 22028099

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