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Is BT the next British company in line for a takeover?
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BT’s status as a potential takeover target is back in focus after UK rules preventing its new largest shareholder from making its next move expired on Saturday. Here we look at the key points.
Altice, the telecoms group controlled by the billionaire Patrick Drahi, made an unexpected £2.2bn share swoop in June to take a 12.1% stake in BT. After the move Drahi, who has said he is supportive of management and their strategy and is not seeking to take control of BT, has been subject to a six-month no-bid clause. However, all bets are off from 11 December.
Patrick Drahi The 58-year-old French-Israeli telecoms billionaire has amassed a $12bn (£9bn) fortune making shrewd bets, often involving aggressive cost-cutting programmes at businesses he
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