Indian billionaire mulls expanding BT stake Business Indian telecoms billionaire Sunil Bharti Mittal is reportedly considering boosting his stake in BT, according to a report in the Financial Times. Mittal already holds a 24.5 per cent stake in BT, which he bought from Luxembourg-based telecoms giant Altice – previously owned by Patrick Drahi. The expanded stake would continue to be held through [...]
Bharti’s BT buy a ‘confidence boost’ for FTSE 100 telecom giant telecoms Bharti Global’s decision to buy a large stake in BT from debt-laden Altice UK has been hailed as “confidence boosting” for the British telecom giant, according to analysts. BT shares surged over six per cent in early FTSE 100 trading following reports that the Indian telecom firm will acquire a 24.5 per cent stake from [...]
BT: FTSE 100 giant’s majority shareholder Altice may be forced to sell stake as debt concerns grow Telecoms The company initially built an 18 per cent stake in BT in 2021 using so-called funded equity collars. These combine bank loans and derivatives to help investors buy positions using borrowing money while hedging downside exposure.
Sotheby’s hands huge pay day to billionaire owner Patrick Drahi July 10, 2024 Sotheby's paid a huge dividend to its billionaire owner Patrick Drahi despite a tick down in its financial performance amid reports a minority stake could be sold to ease debt concerns.
Latin America’s richest man takes £400m stake in BT June 12, 2024 Analysts said the move reflects the "good recent momentum" for BT, especially after chief Alison Kirkby recently revealed a £3bn cost-saving initiative.