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16.12 - 22:13
French billionaire amasses 18% stake in UK telecoms giant BT, fueling takeover fears
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cnbc.comIn this article
LONDON — French billionaire Patrick Drahi has increased his stake in British telecommunications company BT, sparking a response from the U.K. government amid fears over a full-blown takeover.
BT said its board was notified that Altice, Drahi's telecoms group, had increased its ownership of BT to 18% from 12.1%.
Shares of BT slumped 6% Tuesday morning.
«The Board and management of BT Group will continue to operate the business in the interest of all shareholders and remains focused on the successful execution of its strategy and building on recent performance momentum,» BT said in a statement Tuesday.
Tracing its origins back to the founding of the world's first public telegraph company in 1846, BT is an iconic company in
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