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Acquisition of 24.5% Stake in BT Group by Bharti Global

Bharti Global, the international investment arm of Bharti Enterprises, has announced its plans to acquire approximately 24.5% stake in BT Group from Altice UK. This acquisition, as per a release on Monday, will be carried out through Bharti Televentures UK, a company established and wholly-owned by Bharti Global.

The deal, although the exact value has not been disclosed, is estimated to be around $4 billion based on BT’s current valuation. Bharti Televentures UK has already entered into a binding agreement to purchase about 9.99% stake in BT Group and is awaiting regulatory approvals to acquire the remaining 14.51%.

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Exploring Synergies in the Telecom Sector

Bharti aims to leverage this investment to create new synergies in the telecom sector, particularly in the areas of AI and 5G R&D, and core engineering. The collaboration between India and the UK is expected to bring about industry best practices and advancements in emerging technologies.

It is noteworthy that Bharti and BT have a longstanding relationship spanning over two decades. Sunil Bharti Mittal, Chairman of Bharti Enterprises, expressed optimism about this investment, highlighting the strategic significance of investing in a renowned company like BT.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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