New Delhi: Bharti Enterprises, helmed by billionaire Sunil Bharti Mittal, will acquire a 24.5% share in British Telecom Group Plc, the UK’s largest mobile and internet services provider, according to a joint statement.
Bharti Televentures UK Ltd, a wholly-owned subsidiary of Bharti Enterprises’ foreign investment arm Bharti Global, will acquire the shares from telecom services provider Altice UK, which owns 24.5% of BT. Bharti Televentures will purchase 9.99% of BT from Altice immediately, with the remaining 14.51% acquired after regulatory clearances. India and the United Kingdom are anticipated to complete their free trade agreement (FTA) negotiations soon. The talks began in January 2022, and 14 rounds were held before the general elections in both nations. The two governments are also discussing a bilateral investment treaty.
The UK-India Technology Security Initiative was announced during the recent visit of UK Foreign Secretary Rt Hon David Lammy to India, according to the corporation, and it would help to enhance collaboration in essential and emerging technologies across priority industries, including telecom.
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