Bharti Global, the international investment arm of Bharti Enterprises, has decided to buy 24.5 per cent equity in BT Group - a move that will make the Indian conglomerate the biggest shareholder in the UK's second-largest telecom company both in terms of market value and subscriber count. The shares are being purchased from billionaire Patrick Drahi's Altice UK through a combination of cash and debt .
the largest transactions of the year include the merger of Quality Care India and Aster DM Healthcare valued at $5.08 billion, followed by Bharti Enterprises' acquisition of a 24.5 per cent stake in the BT Group at $4.08 billion, and a family settlement transaction in the Godrej family at $3.5 billion.
After a year of decline, mergers and acquisitions (M&As) in India increased 13.8 per cent, reaching $69.2 billion in the first nine months of 2024, as against $60.8 billion during the same period in 2023. Led by Indian companies and private-equity (PE) firms, 2,301 transactions were signed between January and September this year as compared to 1,855 transactions reported in the same period last year, according to the Bloomberg data.
'We operate in 16 countries already, and therefore adding the UK to it, and beginning a chapter in the European continent is the next step.'
Reliance Industries on Monday categorically denied any intent to bid for the UK telecom group, BT. RIL dismissed a report titled `Reliance mulling bid for UK's telco BT Group' as "completely speculative and baseless". "We categorically deny any intent to bid for the UK telecom group, BT, formerly British Telecom, as reported in the article...," Reliance Industries Ltd (RIL) said in a communication to BSE.
Infosys Ltd, India's second-largest software services exporter, posted a 21 per cent rise in quarterly net profit, beating estimates, as stronger economic growth in Europe and the United States revived demand for outsourcing services.
The transaction will be done through the stock market via block deals.
Private equity (PE) players and investment bankers are divided over the timing of the BT Group's reported move to exit Tech Mahindra. BT owns about 30 per cent in TechM.
BT group, the UK's incumbent telecom operator will acquire Mumbai-based i2i Enterprise Ltd, a company specialising in Internet protocol services to become a leading global carrier in the local market.
BT Group Plc, Britain's largest fixed-line telecom provider, said on Friday its BT retail unit would set up two call centres in India, joining a long list of firms moving to that country in a bid to cut costs.
Annualised staff attrition rate at Infosys rose to a record 20.1 per cent in the September quarter.
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