UK to block Indian billionaire Mittal from raising BT stake
The British government intends to oppose any attempt by billionaire Sunil Bharti Mittal to increase his 24.95% stake in BT Group. Officials cited the necessity of maintaining sovereign control over critical national telecommunications infrastructure.
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The United Kingdom will block Indian billionaire Sunil Bharti Mittal from increasing his 24.95% stake in BT GROUP PLC. The government cited the necessity of maintaining sovereign control over critical national infrastructure. This intervention follows reports that Mittal sought to expand his influence over the British telecoms giant.
