Altice UK Buys 585 Million Further Shares in BT Group
14 December 2021 - 6:49PM
Dow Jones News
By Kyle Morris
Altice UK said Tuesday that it has acquired 585 million shares
in BT Group PLC, increasing its stake to around 18% of the British
telecommunications provider's issued share capital.
BT Group said it is aware that Altice UK has increased its
interest in it to 18.0% from 12.1%.
"The board and management of BT Group will continue to operate
the business in the interest of all shareholders and remains
focussed on the successful execution of its strategy and building
on recent performance momentum," it said.
Altice UK has told the BT board that it doesn't plan to make an
offer for BT.
"We are pleased to take this opportunity to increase our
shareholding in BT. Over recent months we have engaged
constructively with the board and management of BT and look forward
to continuing that dialogue. We continue to hold them in high
regard and remain fully supportive of their strategy, principally
to play the pivotal role in delivering the expansion of access to a
full fiber broadband network; an investment program which is so
important to both BT and to the U.K.," Altice UK owner Patrick
Drahi said.
Altice previously owned 12.1% of BT.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
December 14, 2021 02:34 ET (07:34 GMT)
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