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10.06.2021

Altice buys a 12.1% stake BT Group

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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