(Finance) – The French-Israeli billionaire Patrick Drahi has increased his participation in BTone of the largest telecommunications operators in the UK, at 24.5%, but reiterated that it does not intend to make a complete acquisition of the company. The purchases were made with Altice, which is already BT’s largest shareholder.
Drahi took an initial 12.1% stake in June 2021, citing the opportunity presented by the nationwide rollout of next-generation broadband, before increasing it to 18% later that year. Last year, the British government investigated Drahi’s operation, concluding that the entrepreneur’s investment it did not pose a risk to national security.
Last week BT claimed that it will cut up to 55,000 jobs by 2030, when contractors and engineers are expected to have completed the fiber network.