Big move by Sunil Mittal as Bharti Global completes acquisition of 24.5% stake in this UK’s company

In a statement, Bharti Enterprises chairman Sunil Mittal said that they are delighted to have completed the acquisition into BT. He said the company has long recognised the potential of the business.

The international investment wing of Bharti Enterprises, Bharti Global, declared that it has  completed the acquisition of 24.5 % of the issued share capital in UK’s BT Group plc. After the acquisition, Bharti has become the maximum shareholder in the UK’s second largest company of the United Kingdom, BT company.  Formerly, BT is known as British Telecom.

In a statement, Bharti Enterprises chairman Sunil Mittal said that they are delighted to have completed the acquisition into BT. He said the company has long recognised the potential of the business.

BT’s focus is to strengthen its network and to enhance the consumer base, he added.

Mittal said the purpose of acquisition is to consolidate the company’s position while making long-term values for investors.

The development marked the company’s second major international foray after South Africa in 2010. The deal is expected to be worth $4  billion.

Acknowledging it as a major investment, the BT Group CEO, Allison Kirkby, termed it as a vote of confidence in the company’s future. Kirkby hailed Bharti Global’s stake in the company, saying that it reflects growing ties between Bharti and BT Group. The CEO said that Bharti has demonstrated a strong track record in the telecom sector.