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Altice ups BT interest as government ‘monitors situation’

(Photo by Richard Heathcote/Getty Images)

The UK government has said it is “monitoring the situation carefully” after Altice UK, owned by French billionaire Patrick Drahi, further increased its stake in telco BT.

Drahi announced today (Tuesday) that the arm of his French telco business had increased its stake in BT to 18 per cent by acquiring a further 585 million shares yesterday, at a price of £1.02bn (€1.17bn/$1.33bn), based on BT’s closing share price on Monday.

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