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Bharti Enterprises, via its international investment arm Bharti Global, acquired 24.5% stake in UK’s BT Group.
Bharti Airtel’s promoter group entity Indian Continent Investment Ltd sold 0.84% stake, or 5.11 crore shares, for around 8,485.11 crore. Bharti Telecom Ltd, the promoter of Airtel, anchored the trade by acquiring 1.2 crore shares, it said.
In August 2024, CNBC-TV18 had reported that Bharti Global was to acquire around 24.5% of UK-based BT’s issued share capital from Altice UK for $4 billion.
BT is Britain’s biggest broadband and mobile company with a market cap of £13.8 billion
In an interview with CNBC-TV18, Gaurav Malhotra, Executive Director of Axis Capital, said that the telecom industry is in a strong position, with Bharti Airtel leading the market. While Bharti’s valuation is not cheap, factors like increasing dividends serve as positive catalysts. He expects Bharti’s earnings before interest, taxes, depreciation and amortisation (EBITDA) to grow at a compound annual growth rate (CAGR) of 18-19% over the next three years.
