, Columnist
Billionaire Drahi Takes On Bruised British Icon
The dealmaker is sure to be active in influencing BT, even if he's not (yet) an activist.
A good deal?
Photographer: Justin Tallis/AFP
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The telecoms billionaire Patrick Drahi may soon need to add a new role to his resume: activist investor.
Drahi announced on Thursday that he’s acquired a 2.2 billion-pound ($3.1 billion) stake in BT Group Plc., the former U.K. national carrier. He seems to have spotted a bargain, as BT trades at a discount to its major European peers. But the British firm is also a different kind of shareholding for the seasoned dealmaker.