Bharti Global, the overseas investment arm of Bharti Enterprises, signed a definitive agreement to acquire roughly 24.5% of the issued share capital of BT Group plc with Altice UK.
Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, sounded reasonably enthusiastic for this deal. He said, “We are delighted to complete our investment in BT. Bharti has always recognized the huge opportunity of this business. BT’s renewed focus on network optimization, strengthening its infrastructure. And also driving consumer growth positions it as a leading global telecom company, well placed to create long-term value for its investors.”.
That means Bharti is pretty confident about BT’s strategic direction. The investment smacks at the sharpest points of the business, like network optimization and consumer-driven innovations-which are the critical keys to growth in the fiercely competitive telecom business for BT.
The UK government has also welcomed the move. According to the Secretary of State for Science, Innovation, and Technology, Peter Kyle, who voiced his opinion on the partnership on LinkedIn:
“World-class telecom infrastructure is a vital foundation for our economy and society. We’re pleased that Bharti, a world-leading telecom company, recognizes the value. And the potential of BT, one of the UK’s leading businesses.”
Bharti Enterprises, one of India’s largest conglomerates invested in telecom, digital infrastructure. And also space communications, considers this an important step in furthering global telecom collaborations.
Here is what BT Group CEO Allison Kirkby had to say, She said, “We welcomed Bharti’s acquisition of Altice’s stake in BT. And this significant investment is a strong vote of confidence in BT Group’s future and strategy.”
She added, “BT has had a long partnership with Bharti Enterprises. I’m glad they agree with our vision and ambition going forward. Of course, given their success in the telecom sector, we do look forward to continuing to work with them.”
This, in turn, will accelerate the pace of innovation and connectivity further, boosting BT as one of the major international telecom companies.
This investment also further cements the emerging economic ties between the UK and India. This therefore underpins the critical importance of cross-border partnerships in enhancing global connectivity and mutual growth in the telecommunication sector.
ANI