Patrick Drahi's Altice Increases Stake In BT Group

Altice UK, telecoms group owned by the Patrick Drahi, said on Tuesday that it has acquired an additional 585.47 million shares in BT Group Plc (BT), increasing its ownership to 1.785 billion shares.

The additional share acquisition represents 18 percent of the British telecommunication company's issued share capital, the company said in a statement.

Drahi commented: "…Over recent months we have engaged constructively with the Board and Management of BT and look forward to continuing that dialogue. We continue to hold them in high regard and remain fully supportive of their strategy, principally to play the pivotal role in delivering the expansion of access to a full fibre broadband network; an investment programme which is so important to both BT and to the UK."

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