– Indian conglomerate Bharti Global has signed an agreement to acquire a 24.5% stake in U.K.-based BT Group from Altice
– The deal is worth around $4 billion based on BT’s closing stock market price
– Bharti Global, an affiliate of Bharti Enterprises which owns Indian carrier Bharti Airtel, will take a 10% stake immediately
– Bharti Enterprises’ founder Sunil Bharti Mittal stated they have no intention of launching a bid to buy out the rest of BT
– The investment demonstrates confidence in BT’s long-term value and strategy
– Bharti Global joins other high-profile BT shareholders, including Deutsche Telekom and Carlos Slim’s holding company
– Bharti Enterprises is voluntarily applying for clearance under the U.K.’s National Security and Investment Act
– BT CEO Allison Kirkby welcomes Bharti Enterprises’ investment and looks forward to positive engagement in the future.