BT Group: UK to review Altice's increased stake
(CercleFinance.com) - BT Group announced on Thursday that it has received notification from the UK government that it intends to review the recent increase by Altice UK of its shareholding in BT Group.
In a statement, the telecoms operator said it had received a notice under the National Security and Investment Act 2021 from the Secretary of State for Business, Energy and Industrial Strategy.
This legislation, which came into force this year, introduces an investment screening system for companies seeking to take control of a company in several sectors deemed strategic from a national security point of view, including energy, defence, AI or communications.
This text will therefore enable the British State to scrutinise the increase of Altice UK's stake, which last December announced that it had increased its stake in BT from 12.1% to 18%.
BT shares are having a rough ride today - down over 4.5% in late morning trading.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
In a statement, the telecoms operator said it had received a notice under the National Security and Investment Act 2021 from the Secretary of State for Business, Energy and Industrial Strategy.
This legislation, which came into force this year, introduces an investment screening system for companies seeking to take control of a company in several sectors deemed strategic from a national security point of view, including energy, defence, AI or communications.
This text will therefore enable the British State to scrutinise the increase of Altice UK's stake, which last December announced that it had increased its stake in BT from 12.1% to 18%.
BT shares are having a rough ride today - down over 4.5% in late morning trading.
Copyright (c) 2022 CercleFinance.com. All rights reserved.