BT Group gains as Bharti completes acquisition of 24.5% stake

19th Nov 2024 11:47

(Sharecast News) - BT Group gained on Tuesday after India's Bharti Global completed the acquisition of a 24.5% stake in the telecoms company from France's Altice.

BT announced in August that Bharti had reached an agreement to buy the stake from Altice.

Chief executive Allison Kirkby said at the time: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy.

"BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come."

At 1240 GMT, BT shares were up 1.5% at 146.96p.

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