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UK to Probe Drahi’s BT Stake on National Security Concerns

  • Former state monopoly BT owns much of UK’s internet backbone
  • Patrick Drahi has become BT’s largest shareholder in last year
Patrick Drahi’s 18% stake in BT has sparked concerns about a takeover attempt.

Patrick Drahi’s 18% stake in BT has sparked concerns about a takeover attempt.

Photographer: Hollie Adams/Bloomberg
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The UK will review French telecom tycoon Patrick Drahi’s increased stake in BT Group Plc after Business Secretary Kwasi Kwarteng exercised new takeover powers focusing on national security.

Drahi’s investment vehicle Altice UK increased its stake in the former state-owned telecommunications monopoly from 12.1% to 18% in December. He’s now BT’s largest shareholder and the investment has raised concerns in government, BT said Thursday.