UK to Block Indian Billionaire Mittal from Raising BT Stake
UK to Block Indian Billionaire Mittal from Raising BT Stake
The British government would oppose any attempt from Indian billionaire Sunil Bharti Mittal to increase his stake in BT, the Financial Times reported on Thursday, citing people familiar with the matter.
Reuters could not immediately verify the report. The details of Mittal's current stake and potential increase plans remain unclear.
This development is significant in the context of national security concerns and strict scrutiny of foreign investments in strategic sectors. The UK's sensitivity regarding its telecommunications infrastructure is a key factor in such decisions.
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