Patrick Drahi is the founder of the European group Altice, the parent company of SFR in France. On June 10, 2021, he decided take over a share of 12.1% in the capital of the BT Group (formerly British Telecom). A company with tens of millions of subscribers across the channel. The operation is valued at 2.5 billion euros enables the French billionaire to become the main shareholder in the group.
Patrick Drahi is investing 2.5 billion euros in the BT Group
With Altice UK, a company recently founded for the occasion, Patrick Drahi has acquired a large share of the BT Group’s capital. The news has likely been well received by other investors in London since BT Group’s share price rose 6% on this day of June 10th.
GDPR: Amazon threatens a fine of 350 million euros
In its press release released on the same day, Altice UK states that: “Altice values the BT board and management team very much and supports their strategy,” said the company. We would like to inform the Board of Management that we do not intend to do this. a takeover offer “.
Patrick drahi will be able to contribute his expertise in the field of fiber optics to accelerate its development in the UK. The billionaire says Altice UK could play a real operational role within BT Group in the medium term.
The British company would like an offer from Fiber to 25 million UK homes and businesses by 2026. An ambitious plan. The operational and financial support from Altice UK and Patrick Drahi is unlikely to be too much. The total cost of this development is estimated at £ 15 billion.
Fiber optic expansion is to be accelerated in Great Britain
BT Group also announced the arrival of Altice in the capital by writing: “We welcome all investors who see the long-term value of our business and the important role it plays in the UK. Over the years we have made progress in executing our strategy and plan. We believe Altice will can support. ” in this development “.
In addition to the BT Group’s network, residents of the United Kingdom could have access to fiber thanks to Google. In fact, the American giant plans to connect with the United States (New York), Spain (Bilbao) and the United Kingdom (Bude) with Grace Hooper, a submarine cable project. Grace Hopper. The Mountain View giant explains that: “Today, as we work, play and network more and more digitally, reliable connectivity is more important than ever.”.