Embattled French tycoon to raise funds through deal with billionaire Sunil Bharti Mittal’s conglomerate
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Indian conglomerate Bharti Enterprises will become the largest shareholder in the UK’s BT Group after agreeing to buy the stake of billionaire Patrick Drahi’s struggling Altice.
Bharti has agreed to buy 24.5% of BT’s shares, but said it had no intention of making an offer to buy the whole company, in a statement to the London Stock Exchange on Monday.