The telecom giant Altice group buys 12.1% stake worth £2.2 billion in BT Group to develop into the corporate’s largest stakeholder.
Altice UK, In a filing with the London Stock Exchange, said that it had made the investment because it believes BT has a compelling opportunity to deliver one of the U.K. Government’s most important policies, namely the expansion of fiber across the country.
About Altice
It is one of the multinational telecoms and mass media company, founded and headed by the French-Israeli billionaire Patrick Drahi, it is the second largest telecom company in France.
In the year 2015 Altice group had acquired a 70% controlling stake in Suddenlink communications which had valued the seventh largest US cable company at $9.1 billion.
About BT
BT Group is one of the British multinational telecom company which is headquartered in London United Kingdom.It operated in around 180 countries.
It is also a provider of mobile, broadband ,fixed voice and TV and a range of products and services. It controls a number of large subsidiaries which provides telecoms services to corporate and government customers worldwide.
For its global customers, BT provides managed services, security and network and IT infrastructure services to support their operations all over the world.
It is a holding company and the majority of its assets and business are owned by British Telecommunications plc.
The group consists of four customer-facing units: Consumer, Enterprise, Global and its wholly- owned subsidiary, Openreach, which provides access network services to over 650 communications provider customers who sell phone, broadband and Ethernet services to homes and businesses across the UK.
