{"id":310194,"date":"2021-10-27T10:05:25","date_gmt":"2021-10-27T10:05:25","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=331492"},"modified":"2021-10-27T10:05:25","modified_gmt":"2021-10-27T10:05:25","slug":"bt-rumoured-to-be-bracing-for-potential-altice-move","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2021\/10\/27\/bt-rumoured-to-be-bracing-for-potential-altice-move\/","title":{"rendered":"BT rumoured to be bracing for potential Altice move"},"content":{"rendered":"

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\tBT Group reportedly hired investment bank Robey Warshaw in what was claimed to be an attempt to bolster defences against any attempted takeover bid from shareholder Altice UK.<\/p>\n

Sky News revealed the move, which comes after BT employed Goldman Sachs for similar reasons in 2020 [1] as its share price plummeted in the wake of the Covid-19 (coronavirus) pandemic.<\/p>\n

The news outlet noted the banks would work in tandem following the latest appointment.<\/p>\n

Altice UK bought a 12.1 per cent stake [2] in UK incumbent BT in June for around \u00a32 billion, making it the operator’s largest single shareholder with a marginally larger stake than Deutsche Telekom.<\/p>\n

On announcing the investment, Altice owner Patrick Drahi said he fully backed BT’s strategy and management.<\/p>\n

Sky News claimed the BT board have been training for a number of potential scenarios, including Altice launching a full takeover bid, or demanding the spin-off of its fibre infrastructure or consumer divisions.<\/p>\n

The news outlet added Altice’s share buy came alongside a commitment not to launch a takeover bid, which expires in December.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/bt-fortifies-takeover-defences-as-value-falls
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/altice-buys-2b-bt-stake<\/p>\n\n

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BT Group reportedly hired investment bank Robey Warshaw in what was claimed to be an …<\/p>\n

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