Billionaire BT stalker Patrick Drahi increases stake to 24.5%
That code allows for the restrictions to be set aside if the BT board were to agree to a takeover by Altice UK or if another company were to make a takeover bid for the telecoms giant.
BT declined to make any official statement regarding the news, but a spokesperson told us that it could be viewed as an endorsement of the company's strategy and that Altice UK was apparently willing to take a longer-term position on BT's future than some other investors. As to Drahi's long-term intentions, PP Foresight analyst Paolo Pescatore told us the telco entrepreneur is"a shrewd operator" with a proven track record of growing his business interests.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thousands of surplus spaces as Powys schools run 25 per cent under capacityPowys's secondary schools are running at 25 per cent below capacity, it has been revealed.
Read more »
Billionaire Jeff Bezos 'engaged to girlfriend Lauren Sanchez' after 5 yearsBillionaire businessman Jeff Bezos is reportedly engaged to his girlfriend Lauren Sanchez.
Read more »
Of Course Kendall Roy's Envy-Inducing Funeral Coat Is Loro PianaWhat else would you wear to bid a not-so-fond adieu to your billionaire father?
Read more »
Man who died at Fairy Pools on Skye is named as pals pay tributeThe 25-year-old, from Stenhousemuir, was visiting the popular beauty spot with pals when he slipped on a rock.
Read more »
Debt costs push UK borrowing higher than expectedThe government borrowed £25.6bn in April, with inflation pushing up interest payments on debt partly to blame.
Read more »