UK to Block Sunil Mittal From Increasing BT Stake Over National Security Concerns
The British government is set to block Indian billionaire Sunil Bharti Mittal from increasing his stake in telecom giant BT Group, according to a Financial Times report. Officials cited the critical importance of maintaining sovereign control over the UK’s “critical national infrastructure” as the primary reason for opposing further acquisition. Representatives for BT, the UK government, and Bharti Enterprises did not immediately comment on the matter.
This development follows reports that Bharti Enterprises was exploring options to boost its holding in BT to just below the mandatory full-takeover threshold. However, a spokesperson for Bharti recently stated that the company remains satisfied with its current 24.95% ownership and has no immediate plans to acquire additional shares.
The regulatory scrutiny comes at a time of deepening ties between the Indian conglomerate and the British telecom provider. In September, Sunil Bharti Mittal, founder and chairman of Bharti Enterprises, alongside Gopal Vittal, vice-chairman of Bharti Airtel, both joined the BT board as non-independent non-executive directors.
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