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(Alliance News) - Patrick Drahi wants to increase his current 12.1% stake in BT Group PLC, Reuters reported on Friday, citing three sources familiar with the matter.
Reuters said Drahi is seeking to extend his influence over BT, thinking the telecommunication company's fibre-optic rollout will boost value. The sources said any stake-building plan was likely to involve Deutsche Telekom AG, whose own BT stake of 12.06% via T-Mobile Holdings Ltd is just behind Drahi's.
https://www.reuters.com/business/media-telecom/exclusive-altice-founder-drahi-seeks-bigger-stake-britains-bt-sources-2021-11-12/
Back in June, Altice UK Sarl, a new company wholly owned by billionaire Altice Europe NV founder Drahi, bought the 12.10% stake in BT. Drahi's company at the time said it did not intend to make an offer for the whole company, a binding statement under UK takeover rules.
BT shares were up 0.1% on Friday at GBP167.30, having risen 2.0% on Friday.
By Tom Waite; thomaslwaite@alliancenews.com
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