UK government will not step in over Altice’s growing stake in BT
However, the government said in its statement that will act to protect the UK’s critical national telecoms infrastructure if it judges this to be necessary, and any future transaction could be subject to a separate assessment under the Act.
BT itself greeted the news with a bald statement that merely said: “BT Group has now been notified by the Secretary of State that no further action is to be taken under the Act in relation to the increase by Altice Europe N.V. of its shareholding in BT Group from 12.1 percent to 18 percent.” According to Bloomberg, Drahi has publicly supported BT’s business strategy, urging the company to speed up its rollout of fiber broadband infrastructure across the UK.
Telco analyst Paolo Pescatore noted:"While he is not forced to reduce his stake, you cannot rule out moves to increase it further." He went on to opine that it"feels like the end game seems to be a takeover. One for all key stakeholders, including the UK government, to continue monitoring very closely!", the UK's largest chipmaking facility, by Nexperia, a Dutch company that is in turn owned by a Chinese corporation. ®
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