FRENCH-Israeli billionaire Patrick Drahi has increased his stake in BT to almost 25 per cent, but insisted he has no plans to make a takeover offer for the telecoms group.
Altice UK, which is Mr Drahi’s telecoms investment group, said it had increased its shareholding in BT to 24.5 per cent from 18 per cent.
Altice said: “Altice UK has restated its position to the board of BT that it does not intend to make an offer for BT.”
It comes just days after BT unveiled a major cost-cutting overhaul that will see up to 55,000 jobs axed by the end of the decade amid plans to shift to artificial intelligence (AI) and automated services.
