The Government of the United Kingdom considers that it is not necessary to adopt additional measures in relation to the increase from 12.1 to 18 per cent of the participation that the French group Altice holds in the British telecommunications operator BT.
On May 26, BT reported that the UK authorities were examining under the National Security and Investment Law the transaction by which the group controlled by the French-Israeli billionaire Patrick Drahi increased its share from 12.1 to 18 percent. participation in BT.
However, in a statement, the British operator has announced that “the Secretary of State has notified BT Group that no further action will be taken under the Act in relation to Altice Europe’s increase in its shareholding in BT Group from 12.1 to 18 percent.”
Altice announced last December the increase of its stake in BT to 18 percent, which fueled expectations of a possible acquisition of the British operator and led the United Kingdom Government to warn that it could intervene to block a potential purchase of the British telecommunications giant.
Altice UK had paid 2,200 million pounds sterling (2,581 million euros) in June 2021 for a 12.1 percent stake in BT, thus becoming the operator’s largest shareholder.