BT down in London, FT says Gb government halt to strengthening of Bharti Mittal

(Il Sole 24 Ore Radiocor) BT fell on the London Stock Exchange in the wake of the 'Financial Times' article according to which the British government is preparing to prevent the strengthening of Indian billionaire Sunil Bharti Mittal in the capital of the tlc group. BT's share price lost over 3%, ending up in the tail end of the Ftse 100 index. The FT, citing sources close to the matter, writes that the government intends to limit the influence on BT of the Indian shareholder, which bought 24.5% of the group in 2024 from Patrick Drahi and has now risen to 24.95% through its conglomerate Bharti Enterprises. Increasing the stake above the 25% threshold would require British government approval, but 'British officials have made it clear they would block such a move'. This - a source points out - 'has nothing to do with Baharti or India specifically, this is about keeping critical national infrastructure in the UK's sovereign control for obvious reasons'. BT is responsible for Openreach, which provides fibre broadband to over 22 million homes in the UK. In general, the sources add, the UK government wants its position to be clear to foreign investors in anticipation of possible future investment 'in order to avoid embarrassment'. Since joining BT's capital, Mittal has had close relations with ceo Allison Kirby, with whom he has had several strategic meetings, the FT adds. Since last year, the Indian shareholder has also had two representatives on the board of directors.