Altice buys a 12.1% stake BT Group
The stake was worth about 2.2 billion pounds
Stocks impacted: BT Group PLC (BT), Altice Group
The telecoms group has taken a 12.1% stake in BT Group PLC but says it does not intend to make a takeover offer. The stake was worth about 2.2 billion pounds based on BT's closing price yesterday. In a statement, BT said it noted the Altice investment and support for its management and strategy. The company also said it is considering selling a stake in its sports TV operation. Besides, the firm has set out plans to extend fibre broadband to 25 million homes and businesses by 2026. BT Group’s stocks traded 2.65% higher early on Thursday. Last month, BT Group reported fourth-quarter earnings that beat forecasts and revenue that topped expectations.
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