Exclusive-Altice founder Drahi seeks bigger stake in Britain's BT – sources

Exclusive-Altice founder Drahi seeks bigger stake in Britain's BT – sources

Information about Exclusive-Altice founder Drahi seeks bigger stake in Britain's BT – sources

Kevin David


By Pamela Barbaglia and Sergio Goncalves
LONDON (Reuters) – Telecoms tycoon Patrick Drahi is looking to increase his stake in BT Group as he seeks to extend his influence at the British company, betting its fibre-optic rollout will boost value, three sources familiar with the matter told Reuters.
Since the billionaire Altice founder bought a 12.1% stake in BT worth about 2.2 billion pounds ($2.95 billion) on June 10, the British telecom giant’s shares have fallen 15% and are down about 46% over the past five years.
The Franco-Israeli entrepreneur’s new vehicle Altice UK is BT’s largest shareholder, ahead of Deutsche Telekom which owns 12.06%.
Deutsche Telekom has repeatedly voiced interest in reviewing options for its stake and CEO Tim Hoettges said on Friday he was keeping “all options …

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