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Indian tycoons plan to increase their shareholding in United Kingdom's Telecommunication Sector, while the Bharti Group may further expand its control.
According to informants, as the new CEO of BT, Alison Kirby, continues to push forward with transformation plans including business restructuring and cost reduction, the conglomerate led by Mittal is assessing the feasibility of increasing shareholding in the telecommunications giant. However, sources also emphasize that Mittal will not initiate the shareholding program until the existing preferred shares are converted to common shares. This technical arrangement involves an equity conversion valued at approximately 2 billion British Pounds, expected to be completed in the coming months. A spokesperson for the British telecommunications group declined to comment. The conglomerate reiterated that there are currently no plans to exceed the disclosed 24.5% shareholding ratio.
