Billionaire BT stalker Patrick Drahi increases stake to 24.5%
That code allows for the restrictions to be set aside if the BT board were to agree to a takeover by Altice UK or if another company were to make a takeover bid for the telecoms giant.
BT declined to make any official statement regarding the news, but a spokesperson told us that it could be viewed as an endorsement of the company's strategy and that Altice UK was apparently willing to take a longer-term position on BT's future than some other investors. As to Drahi's long-term intentions, PP Foresight analyst Paolo Pescatore told us the telco entrepreneur is"a shrewd operator" with a proven track record of growing his business interests.
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