Patrick Drahi’s Altice lifts stake in BT to virtually 25%

Patrick Drahi’s telecoms funding group has lifted its stake in BT to virtually 25 per cent simply days after the UK group introduced its most radical cost-cutting drive in a long time.

Altice UK, the automobile managed by billionaire Drahi, stated on Tuesday that it had lifted its stake within the former UK monopoly to 24.5 per cent from 18 per cent.

In a brief assertion, Altice UK reiterated that it had no plans to make a suggestion for BT, whose share value dipped following a blended set of outcomes final week however stays up greater than 30 per cent this 12 months.

Drahi’s funding automobile first purchased a 12 per cent stake in BT in June 2021, rising it to 18 per cent later that 12 months.

The UK authorities “known as in” the funding to look at its safety implications beneath its new nationwide safety regulation final 12 months, however determined to take no additional motion in August.