Ministers have given the all-clear for an Indian billionaire to buy nearly a quarter of BT. Sunil Bharti Mittal’s conglomerate Bharti Enterprises agreed to buy the 24.5 per cent stake that was held by embattled French tycoon Patrick Drahi in August. The Government has approved the plan after a detailed national security assessment and assurances from the telecoms group.
BT will establish a national security committee within the company to oversee ‘strategic work that it performs which has an impact on or is in respect of the national security’ of the country, a Government spokesman said. The Government said the proposed measure would mitigate the risk to national security given BT’s role in supporting state initiatives in the telecommunications sector and in ensuring the country’s cyber-security.
Bharti said in August it had no intention of making an offer to buy the whole company. Approved: Indian billionaire Sunil Bharti Mittal (pictured) has agreed to buy a 24.5% stake in BT through his conglomerate Bharti Enterprises. Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
