Saudi Arabia Is Building Stake in BT Group, Telegraph Reports
The BT Group Plc headquarters stands on Newgate Street in London, U.K.
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Saudi Arabia’s Public Investment Fund has been buying shares of BT Group Plc on the open market in recent weeks, the Telegraph reported, citing three sources close to BT that it didn’t identify.
The stake was said to be “significantly” lower than the 5% threshold that would require notification to the exchange, the report said. BT advisers have been tracking a new investor in the market for weeks, it said.