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Drahi ups BT stake

May 23, 2023

Billionaire telecoms investor Patrick Drahi has increased his stake in dominant UK telco BT to 24.5 per cent from 18 per cent via his Altice UK investment unit – but reiterated that he does not plan a full takeover.

“Altice UK has restated its position to the board of BT that it does not intend to make an offer for BT,” the company said.

Drahi first took a 12.1 per cent stake in the telco in June 2021, upping this to 18 per cent in December 2021.

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