Sunil Bharti Mittal considers increasing BT stake to 30%
Sunil Bharti Mittal considers increasing BT stake to 30%

Sunil Bharti Mittal considers increasing BT stake to 30%

News summary

Indian billionaire Sunil Bharti Mittal is contemplating increasing his stake in BT Group, where he currently holds 24.5% after purchasing shares from Altice. This potential move comes as BT undergoes a restructuring and cost-cutting phase under CEO Allison Kirkby, who has noted that Mittal is not expected to be a passive investor. Mittal, whose stake was initially acquired partially through derivatives, is converting this position into equity, with estimates suggesting about 16% has already been completed. However, he will not proceed with further stake increases until this conversion is finalized, as exceeding 30% would necessitate a mandatory takeover offer under UK law. Analysts indicate that increasing his stake makes strategic sense given BT's ongoing fiber rollout, which is enhancing the company's value. Despite the interest, Bharti Enterprises has stated it currently has no plans to exceed the 24.5% stake.

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