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Altice’s billionaire owner sends BT a clear reminder of his intentions
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theguardian.comPatrick Drahi’s move to increase his control of BT puts him potentially just one step away from triggering a full takeover of the British telecoms business, although the billionaire will now have to wait six more months before he can seal the deal.
Drahi, who informed BT’s chair, Adam Crozier, that he had upped his stake to 18% after the stock market closed on Monday, can continue to increase his control, snapping up more stock, but under UK rules cannot mount a full takeover bid until 15 June.
While the founder of Altie telecoms company has so far positioned himself as a benevolent investor, his decision to buy more stock on the first trading day after the expiration of a no-bid clause triggered when he made the surprise move to become BT’s
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