Telecoms/Media: Altice UK becomes the largest shareholder (12.1%) of the British operator BT

Altice UK, a new entity created by the businessman Patrick Drahi (Altice Europe including SFR and RMC Sport, Altice USA), has acquired 12.1% of the British telecommunications operator BT on 10/06/2021.

The deal is reported to be worth £2.2bn (€2.56bn), according to specialised media. Consequently, Altice UK becomes BT's largest shareholder overtaking the German operator Deutsche Telekom, which holds 12.06% of the company.

"Altice holds the board and management team of BT in high regard and is supportive of their strategy. Altice UK has informed the BT board that it does not intend to make a takeover offer for BT. We welcome all investors who recognize the long-term value of our business and the important role it plays in the UK. We are making good progress in delivering our strategy and plan," said Altice UK.

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