Altice, a telecommunications investor controlled by billionaire Patrick Drahi, has taken a 12.1 per cent stake in BT, worth միլի 2 billion, in a bid to stem the pressure on the UK telecommunications company.
The acquiring company, which bought telecommunications networks in France, Israel, Portugal, the United States and BT, has established the United Kingdom in addition to its core business.
It says it has no plans to bid on the British company, which means that under the confiscation code, it can not bid for six months without a BT management approval.
Altice bought the shares through banks this week, but only told BT management on Wednesday that it had become the company’s largest shareholder. Deutsche Telekom owns a 12% stake in BT.
Drahi thinks BT is the best place to take advantage of huge investments upgrade UK broadband networks to full fiber, which is not reflected in its share price.
“BT has the potential to significantly upgrade and expand its full fiber broadband network to significantly benefit millions of households across the UK,” said Drahi. “We fully support the leadership strategy to realize this opportunity.”
BT CEO Philipp Jansen said the company needed it long-term investors as it undertakes the modernization of a large network of capital expenditures.
Altice’s investment came as BT was looking for a chair to replace Jan du Plessis, who is because of the descent in the summer, following in the footsteps of the boardroom.
“We welcome all investors who recognize the long-term value of our business և their potential role in the UK,” BT said in a statement on Thursday. “We are making good progress in presenting our strategy and program.”
Altis withdrew its shares They were underestimated after an argument in Amsterdam last year.