Altice to acquire a 12.1% stake in BT Group for $3.1bn.

Altice, a cable, telecommunications, and media company, agreed to acquire a 12.1% stake in BT Group, a telecommunication and network provider and a provider of global communications services, for $3.1bn. “BT has a significant opportunity to upgrade and extend its full-fibre broadband network to bring substantial benefits to millions of households across the UK. We fully support the management’s strategy to deliver on this opportunity. We understand that the expansion of the broadband network is one of the UK government’s most important policy objectives and a core part of its levelling up agenda,” Patrick Drahi, Altice CEO.