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Ministers have given the go-ahead for an Indian billionaire to buy almost a quarter of BT.
Sunil Bharti Mittal’s conglomerate Bharti Enterprises agreed to buy the 24.5 per cent stake held by embattled French tycoon Patrick Drahi in August.
The Government approved the plan after a detailed assessment of the national security and guarantees of the telecommunications group.
BT will establish a national security committee within the company to oversee the “strategic work it carries out that impacts or respects the national security” of the country, a government spokesperson said.
The Government said the proposed measure would mitigate the risk to national security given BT’s role in supporting state initiatives in the telecommunications sector and ensuring the country’s cybersecurity.
Bharti said in August that she had no intention of making an offer to buy the entire company.
Approved: Indian billionaire Sunil Bharti Mittal (pictured) has agreed to buy a 24.5% stake in BT through his conglomerate Bharti Enterprises.
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