Altice UK Buys 650 Million Shares in BT; Says It Won't Make Bid for the Company
2023年5月23日 - 4:14PM
Dow Jones News
By Joe Hoppe
Altice UK said Tuesday that it has purchased a further 650
million shares in BT Group for around 961 million pounds ($1.20
billion), bringing its ownership up to around 24.5% of the
company's issued share capital.
The telecommunications and mass media company said it has
restated its position to the board of BT that it doesn't plan to
make an offer for the company and will be bound by that statement
under U.K. takeover rules.
Based on BT's closing share price of 147.85 pence on Monday,
this implies Altice's new purchase is worth around GBP961 million.
Its full stake is now worth around GBP3.60 billion.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
May 23, 2023 02:59 ET (06:59 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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