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Share Name Share Symbol Market Type Share ISIN Share Description
Bt Group Plc LSE:BT.A London Ordinary Share GB0030913577 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.00 1.04% 193.55 193.40 193.50 195.60 188.50 189.05 40,582,647 16:35:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Fixed Line Telecommunications 21,331.0 1,804.0 14.8 13.1 19,195

Altice UK Buys 12.1% of BT Group but Doesn't Plan Takeover

10/06/2021 7:38am

Dow Jones News


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   By Ian Walker 
 

Altice UK SARL, a company owned by Patrick Drahi, said Thursday that it has bought a 12.1% shareholding in BT Group PLC, but doesn't plan to make an offer for the U.K. telecommunications company.

Altice UK said it holds the board and management team of BT in high regard and is supportive of their strategy.

The company said that BT has a compelling opportunity to deliver on the U.K. government's full-fiber, gigabit-capable broadband network expansion.

Altice UK owns 1.2 billion shares in BT that are valued at 2.20 billion pounds ($3.11 billion), based on BT's closing price of 183.15 pence Wednesday.

BT said that it welcomes all investors who recognize the long-term value of its business and the role it plays in the U.K. "We are making good progress in delivering our strategy and plan," BT added.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

June 10, 2021 02:34 ET (06:34 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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