BT: Billionaire Patrick Drahy raised the stake to 18%.
Written byTimes Magazine
The Israeli-French businessman increased his stake from 12% to 18%, prompting an immediate government response to intervene if necessary. His company Altice has announced that it will not be making a complete offer, but that could change if circumstances change.
Drahi's involvement in BT has sparked rumors of another potential candidate. Altis said in a statement, "We have had a constructive relationship with the BT board and senior management over the last few months and look forward to continuing that dialogue.
"We remain very respectful and fully support their strategy, especially playing a key role in providing extended access to a full optical broadband network, an essential investment program for BT and the UK."
A spokeswoman said: "The government is keeping an eye on Altice's recent acquisition of BT shares. We are monitoring the situation closely.
"The government wants to level the country through digital infrastructure and will not hesitate to act if necessary to protect our critical national telecommunications infrastructure.
Sources close to Pak Drahi insist that it is a coincidence that it is the exact amount of DT's contribution. Next January, tighter rules will come into effect to prevent foreign takeovers of critical assets, but that could block takeovers under regulations. So what's Mr. Drahi's game? Sources say Pak Drahi admits three things.
First, BT has a strong market position with the government backing its big investment plans in digital infrastructure.
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