Now Airtel's tune will ring in Britain too, Sunil Mittal will buy 24% stake in British Telecom

Market experts say that at a valuation of around $15 billion for BT, the deal could be worth around $4 billion. Bharti Airtel is India's second-largest telecom company. It has around 400 million customers. It has had a relationship with BT in the past as well. BT had a 21 percent stake in Bharti Airtel from 1997 to 2001.

Telecom giant Sunil Bharti Mittal's group will buy 24.5 percent stake in Britain's largest broadband and mobile company British Telecom (BT) Group for around $4 billion. According to the company, Bharti Global, the international investment arm of Bharti Enterprises, will immediately buy 9.99 percent stake in BT Group from Israeli billionaire and investor Patrick Drahi's telecom group Altice. The remaining stake will be acquired after getting the necessary regulatory approvals.

Deal done for $4 billion
The company did not disclose the size of the deal, but market experts say that at BT's valuation of around $15 billion, the deal could be around four billion dollars. Bharti Airtel is India's second largest telecom company. It has around 400 million subscribers. It has had a relationship with BT in the past as well. BT had a 21 percent stake in Bharti Airtel from 1997 to 2001.
Old relationship of both the companies
The special thing is that the company neither wants to acquire BT completely nor does it want any place on its board. Altice, an investment group controlled by billionaire Drahi, who is facing a debt crisis, is exiting BT. It first took a stake in BT in 2021. After this, it acquired 12 percent stake, increasing its stake to 24.5 percent.