THE BRITISH government will oppose any move by Indian billionaire Sunil Bharti Mittal to increase his stake in telecoms group BT Group, the Financial Times reported on Thursday, citing people familiar with the matter.
According to the report, the UK government believes sovereign control over “critical national infrastructure” must be maintained.
Reuters reported last week that Bharti Enterprises was exploring the possibility of increasing its stake in BT to just below the threshold that would trigger a full takeover offer for the British telecoms group.
A Bharti spokesperson had said the company is pleased with its current 24.95 per cent shareholding and “currently has no plans to increase its stake.”
In September, Mittal, founder and chairman of Bharti Enterprises, and Gopal Vittal, vice-chairman and managing director of Bharti Airtel, joined the BT board as non-independent non-executive directors.
