Britain launches review of Drahi's BT stake deal

BT Group Plc said on Thursday Britain's business minister will launch a national security review of a deal by the telecoms group's biggest shareholder Patrick Drahi to increase his stake in BT to 18%. Britain "will not hesitate to act if required to protect our critical national telecoms infrastructure," a government spokesperson had said at the time.

BT Group Plc said on Thursday that Britain's business minister will launch a national security review of a deal by the telecoms group's biggest shareholder Patrick Drahi to increase his stake in BT to 18%. BT said it would fully cooperate with the government review, permissible under Britain's national security and investment laws.

Franco-Israeli entrepreneur Drahi bought 12.1% of BT last June and increased that holding to 18% in December. Britain "will not hesitate to act if required to protect our critical national telecoms infrastructure," a government spokesperson had said at the time. Shares in BT were down 5.3% in early trade on the London Stock Exchange.

 

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