Patrick Drahi’s Altice is now the largest shareholder in BT after it acquired 12.1% of the company, worth £2.2 billion.
The acquisition was made through Drahi’s Next Alt, which is also the investment vehicle for Altice France, owner of SFR.
The company said it had no intention of making a full takeover bid.
In a statement, BT said it noted Altice’s statement of support for its management and strategy: “We welcome all investors who recognize the long-term value of our business and the important role it plays in the UK. We are making good progress in delivering our strategy and plan.”
Deutsche Telekom 12.06% of BT.
