UK govt approves Bharti Global’s BT stake acquisition
The UK government has approved Bharti Global’s acquisition of a 24.5 per cent stake in BT following a detailed national security assessment of the process since the Indian multinational and British telecom major announced the deal back in August.
The Cabinet Office said its decision comes into force on Monday after an assurance that BT would set up a National Security Committee to oversee strategic work. The order noted that Bharti Televentures UK Limited acquired 24.5 per cent of the issued share capital of BT — 9.99 per cent on August 12, and 14.51 per cent on November 18.
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