Bharti

New Delhi, August 12, 2024: Bharti Global, the international investment arm of Bharti Enterprises (Bharti), a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in c.24.5% of the issued share capital of BT Group plc from Altice UK S.à r.l (Altice UK).

The shares will be purchased through Bharti Televentures UK Ltd – a company established and wholly owned by Bharti Global. Bharti Televentures UK Ltd has entered into a binding agreement with Altice UK to acquire c.9.99% stake of BT Group’s issued capital imminently with the balance c.14.51% of BT’s share capital to be acquired following receipt of applicable regulatory clearances.

Bharti and BT have an enduring relationship going back more than two decades. In 1997, BT acquired a 21% stake in Bharti Airtel and today marks a significant milestone in Bharti’s history as it acquires a stake in the iconic British Company – BT, thereby, strengthening the India-UK bilateral partnership.

This investment in BT aims to support the commitment of our Hon’ble Prime Minister towards his vision in elevating and broadening the India-UK ties*.

Bharti hopes that this investment will further help create new synergies in the telecom sector between both countries in the areas of AI and 5G R&D and core engineering amongst others, offering great potential to collaborate on industry best practices and emerging technologies.

During the recently concluded visit of UK Foreign Secretary, Rt. Hon David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including Telecom.

Commenting on the investment in BT, Sunil Bharti Mittal, Chairman of Bharti Enterprises said:

“Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned 21% stake along with 2 board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group’s history as we invest in BT - an iconic British Company.

This investment in BT aims to support the commitment of our Hon’ble Prime Minister towards his vision in elevating and broadening the India-UK ties.

Bharti’s own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation and operational efficiency at the heart of its business”.

Shravin Bharti Mittal, Managing Director of Bharti Global and Founder of Unbound, the long-term global tech investment fund, said:

“We review global investment opportunities in the world of technology from digital infrastructure to software. BT is well known to us from the long association with Bharti, so we are pleased to have this opportunity to acquire a significant stake in the company. We believe that BT is poised for leadership in the telecom arena, especially home broadband services.”

Barclays Bank PLC, acting through its Investment Bank (“Barclays”) served as sole financial advisor and Linklaters LLP served as legal advisor to Bharti Global in connection with the transaction.

About Bharti

Bharti’s telecoms portfolio includes Bharti Airtel, a top three mobile operator globally, with networks that cover more than two billion people serving over five hundred and fifty million customers in 17 countries across South Asia and Africa. Airtel is India’s leading telecom service provider and its Africa division, Airtel Africa, a London-listed FTSE 100 company, is a major mobile operator in Africa.

Bharti Global is the international investment arm of Bharti Enterprises, a leading Indian business conglomerate with world-class companies in telecom, technology, digital infrastructure and space communications. Bharti Global has a significant record of long-term investments in the United Kingdom including the resurrection of OneWeb, a space communications company which got merged with Eutelsat in 2023. With its significant investments in Norlake Hospitality, Bharti Global owns marquee hotels through its portfolio which includes The Hoxton, Scottish resort Gleneagles, and other hospitality assets which are managed and operated by Ennismore.

Bharti Global, through its investment in Unbound, is fostering the next generation of global technology innovations.

For media queries:
Kinshuk Gupta
M: +91 9811846196
E: kinshuk.gupta@airtel.com

Himar Arjun Singh
M: +91 8527217779
E: himar.singh@bharti.in

*Hon’ble Prime Minister Narendra Modi’s tweet:

#Notes to the Editor

• • The investment in BT Group plc is done though Bharti Global, the international investment arm of Bharti Enterprises which has entered into an agreement to acquire up to 24.5% in British Telecom (BT) from Altice UK S.à r.l (Altice UK).
• • The shares are being purchased by Bharti Televentures UK Ltd – a company established in the UK and wholly owned by Bharti Global.
• • The investments for this acquisition is not connected to Bharti Airtel Limited or any of its subsidiaries.