Firm owned by French-Israeli billionaire Drahi becomes biggest stakeholder in move to exploit UK broadband rollout
Altice, the telecoms group controlled by the billionaire Patrick Drahi, has become BT’s biggest shareholder after spending £2.2bn to take a 12.1% stake, citing the opportunity presented by the national rollout of next generation broadband.
Drahi, who founded Altice in 2001 and still serves as its chairman, said the investment was a sign of confidence in BT, given the UK government’s plan to expand next-generation full-fibre and gigabit-speed broadband across the country.
