Ultimately, yes. London authorizes Altice to take 18% of the capital of the British operator. Altice is owned by French businessman Patrick Drahi, who also owns SFR in France and Portugal Telecom.
The British government launched an investigation after Altice increased its stake in the incumbent telecom operator from 12.1% to 18%. In recent months, London has been particularly wary of foreign interests taking over its tech scraps. So American Nvidia was barred from acquiring Arm, in semiconductors.
Patrick Drahi may remain in BT’s capital following an in-depth investigation by British civil services. The Frenchman thus maintains his position as the largest shareholder of the British operator, but further increases in his participation will be subject to investigation, the British government warns. Altice has already warned that there are no further increases in BT’s stake to date.
BT, which is experiencing a new period of turbulence, saw its share rise about 2% at the opening of the London Stock Exchange. Investors feared a massive sell-off in shares in the event of a Downing Street veto. However, the operator faces serious difficulties. The country is very late in deploying fiber and BT is in turn affected by a wave of strikes affecting the country while workers demonstrate for their purchasing power.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.