French billionaire Patrick Drahi ups BT stake to more than 24%
by Mark Sweney from on (#6BVN7)
Businessman's Altice UK reiterates that it does not intend to make a bid for the British telecoms group
The French billionaire Patrick Drahi has increased his stake in BT to more than 24%, but reiterated that he does not intend to make a bid to take over the 15bn British telecoms group.
Drahi, who had control of an 18% stake through his subsidiary Altice UK, raised that position to 24.5% on Tuesday. Drahi's purchase of 650m shares cost about 960m, at BT's share price of 147.85p at the close of trading on Monday.
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