Philip Jansen, managing director of the BT Group
British Telecom shines in London, Asia’s richest man puts the spotlight on the UK
Spotlights on the title of British Telecom Group, the first telephone operator of the UK that today a London scores around 10 Italian a gain of 8.5% at 167.13 pence, the largest of the Ftse 100 index and also of the Euro Stoxx 600 index. To push the race the rumors according to which the conglomerate Indian Reliance Industries of billionaire Mukesh Ambani he is considering launching an offer on the telephone company, proof of the turmoil in the telecommunications sector.
Reliance Industries is considering a bid for the former British Telecom
According to theEconomic Times, the main economic-financial newspaper of India, Ambani, the richest man in all of Asia, would have put the spotlight on UK to strengthen its presence in telecommunications. Multiple sources close to the dossier, the newspaper writes, report that Reliance Industries is considering an offer for the former British Telecom.
The move would happen after that two months ago Reliance lost the duel with the consortium of private equity formed by Apax Partners and Warburg Pincus for the acquisition of the Dutch subsidiary of T-Mobile for 5.1 billion euros. Ambani would ultimately commute between Mumbai and London after purchasing the Stoke Park estate (300 acres of parkland around a Georgian residence used as a hotel and golf club, formerly the set of some James Bond films), in Buckingamshire for 57 million pounds.
British Telecom, the main shareholder is the Franco-Israeli billionaire Patrick Drahi, owner of the French telephone company Sfr
British Telecom has a widespread shareholding structure, notes theEconomic Times and some of the strategic investors would be open to the idea of selling their stocks if the offer is up to par. Sources expect Reliance to launch an ‘unsolicited’ takeover bid or take over a controlling stake. Alternatively, it could propose a partnership on BT’s subsidiary, Openreach (digital network), to finance its expansion plans. The main shareholder of BT with 12.1% since last June is the Franco-Israeli billionaire Patrick Drahi, owner of the French telephone company Sfr, which according to rumors circulated in recent weeks would like to increase its share. BT has a market capitalization of approximately £ 16.5 billion.
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