Reuters exclusively reports Altice founder Drahi seeks bigger stake in Britain’s BT

Business & FinanceTechnology

Reuters exclusively reported that telecoms tycoon Patrick Drahi is looking to increase his stake in BT Group as he seeks to extend his influence at the British company, betting its fiber optic rollout will boost value. Since the billionaire Altice founder bought a 12.1% stake in BT worth about 2.2 billion pounds ($2.95 billion) on June 10, the British telecom giant’s shares have fallen 15% and are down about 46% over the past five years. Drahi has backed BT’s plans to build a fiber optic network serving 25 million homes by the end of 2026.

Article Tags

Topics of Interest: Business & FinanceTechnology

Type: Reuters Best

Sectors: Business & FinanceEquitiesTelecommunications

Regions: Europe

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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