UK government extends review of BT stake owned by French tycoon Patrick Drahi
The UK government has extended its national security assessment into the increasing ownership of BT shares by French telco tycoon Patrick Drahi, and has reportedly requested more information regarding the acquisition.in the telecoms giant was sparked by the purchase of an extra 6 percent of BT shares by Altice UK, a company wholly owned by Drahi, who also controls the telecoms outfits Altice France and Altice International.
Drahi also said that he was bound by stock market regulations that prevented him from making any such further investments for six months.increased its stake in BT to 18 percentAltice UK restated its position to the BT board that it did not intend to make an offer for the rest of BT and said it would be bound by that statement for the purposes of Rule 2.8 of the UK's Takeover Code.
The move worried the UK government enough that it used its new powers under the NSIA, which came into force at the start of this year, to call in the acquisition for a full national security assessment.
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