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<keyword id="20253141" type="General" weightage="20" keywordseo="Bharti-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Global" meta.hostid="268" meta.entityid="Bharti Global">Bharti Global</keyword>, the international <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> arm of Bharti Enterprises, will acquire about 24.5 per cent stake in <keyword id="20115879" type="General" weightage="20" keywordseo="BT-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="BT Group" meta.hostid="268" meta.entityid="BT Group">BT Group</keyword>, Britain's largest broadband and mobile company, from <keyword id="22756191" type="General" weightage="20" keywordseo="Altice-UK" source="keywords" meta.keywordsubtype="org" meta.entityname="Altice UK" meta.hostid="268" meta.entityid="Altice UK">Altice UK</keyword>, a release said on Monday. Although it did not divulge the size of the deal, market watchers say that at BT's valuation of roughly USD 15 billion dollars, the deal could be in the ballpark of USD 4 billion. The shares will be purchased through Bharti Televentures UK, which is wholly-owned by Bharti Global. Bharti Televentures UK has inked an agreement with Altice UK to acquire about 9.99 per cent stake of BT Group's issued capital imminently with the rest about 14.51 per cent of BT's share capital is to be acquired post regulatory clearances. Telecom billionaire Patrick Drahi's Altice UK, the largest shareholder in BT, has been struggling with high debt. "Bharti Global, the international investment arm of Bharti Enterprises, a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in 24.5 per cent of the issued share capital of BT Group plc from Altice UK," Bharti said in a release. Bharti hopes the investment will further help create new synergies in the telecom sector between India and UK in the areas of AI and <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> R&amp;D and core engineering among others, "offering great potential to collaborate on industry best practices and emerging technologies". It is pertinent to mention here that Bharti and BT have a relationship going back more than two decades. In 1997, BT acquired a 21 per cent stake in Bharti Airtel, and hence Bharti's latest move to acquire a 24.5 per cent chunk in the iconic British company marks a defining moment for the Indian telecom conglomerate. Sunil Bharti Mittal, Chairman of Bharti Enterprises said: "Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned 21 per cent stake along with two board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group's history as we invest in BT - an iconic British company". Bharti's investment in BT aims to support the commitment of Prime Minister Narendra Modi towards his vision in elevating and broadening the India-UK ties, the release said. It noted that during the recently concluded visit of UK Foreign Secretary, David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including telecom. Sunil Mittal said: "This investment in BT aims to support the commitment of our Prime Minister towards his vision in elevating and broadening the India-UK ties. Bharti's own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation and operational efficiency at the heart of its business". Shravin Bharti Mittal, Managing Director of Bharti Global said: "We review global investment opportunities in the world of technology from digital infrastructure to software. BT is well known to us from the long association with Bharti, so we are pleased to have this opportunity to acquire a significant stake in the company." Bharti believes that BT is poised for leadership in the telecom arena, especially home broadband services, he added. Meanwhile, BT Group, in a separate statement said the investment from Bharti is a strong vote of confidence in the future of the British telecom carrier and its strategy. Allison Kirkby, Chief Executive of BT said: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy". "BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come," Kirkby said. Barclays Bank PLC, acting through its Investment Bank served as the sole financial advisor and Linklaters LLP served as legal advisor to Bharti Global in connection with the transaction. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Bharti to acquire about 24.5% stake in BT Group from Altice UK; deal estimated at $4 bn

Telecom operator <keyword id="19951944" type="General" weightage="20" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="261" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> on Tuesday posted a 31 per cent drop in consolidated profit to Rs 2,072 crore in the March quarter. The company had registered a profit of Rs 3,005.6 crore in the year-ago period. The consolidated revenue of operations increased 4.4 per cent to Rs 37,599.1 crore during the quarter under review from Rs 36,009 crore a year earlier. "Consolidated performance was impacted primarily by the devaluation of the Nigerian Naira. We added 7.8 million smartphone customers and delivered an industry leading <keyword id="20233536" type="General" weightage="20" keywordseo="ARPU" source="keywords">ARPU</keyword> of Rs 209," Bharti <keyword id="19896909" type="General" weightage="20" keywordseo="airtel" source="keywords">Airtel</keyword> Managing Director Gopal Vittal said. For the year ended March 31, 2024, Bharti Airtel's profit dropped 10.5 per cent to Rs 7,467 crore from Rs 8,346 crore in FY23. The annual revenue from operations of the company increased 7.7 per cent to Rs 1,49,982.4 crore during the reported fiscal from Rs 1,39,144.8 crore in 2022-23. For FY24, the Airtel board has recommended a final dividend of Rs 8 per fully paid-up equity share of face value of Rs 5 each and Rs 2 per partly paid-up equity share of face value of Rs 5 each. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/chatgpt-maker-openai-has-launched-gpt-4o-a-new-ai-voice-assistant/articleshow/110112039.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/chatgpt-maker-openai-has-launched-gpt-4o-a-new-ai-voice-assistant/articleshow/110112039.cms" target="_blank">ChatGPT maker OpenAI has launched GPT-4o, a new AI voice assistant</a><a href="https://www.businessinsider.in/tech/news/google-i/o-event-today-how-to-watch-and-what-to-expect/articleshow/110105611.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/google-i/o-event-today-how-to-watch-and-what-to-expect/articleshow/110105611.cms" target="_blank">Google I/O event today – how to watch and what to expect</a><a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank">OnePlus Nord CE 4 Lite to launch soon in India – expected price, specs and everything we know so far</a>

Bharti Airtel net profit tanks 31% to ₹2,072 cr in Q4

<ul><li>At 7:50 am, the SGX Nifty was trading flat, indicating a slow start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a tepid note on Wednesday, led by mixed cues from the global markets. At 7:50 am, the SGX Nifty was trading flat, indicating a slow start for Nifty50. However, on Wednesday, after an initial morning decline, <a href="https://www.businessinsider.in/stock-market/news/us-stocks-erase-losses-finish-higher-amid-renewed-stimulus-optimism/articleshow/79538793.cms">US stocks finished mostly higher as investors </a>latched onto hope that another round of fiscal stimulus to hasten the economic recovery is just around the corner. The Dow Jones Industrial Average closed 60 points higher, and the S&amp;P 500 was up 0.18%. These are the stocks to watch out for during the trading session today: RIL and Future Retail The Indian market regulator <a href="https://www.livemint.com/news/india/sebi-asks-bse-to-clarify-on-noc-to-ril-future-deal-11606901705869.html">SEBI has asked the BSE</a> to clarify on the no-objection-certificate (NOC) given by the exchange to the Future Group for amalgamation of some of its business as part of the ₹24,713 crore deal by Reliance Industries’ retail arm. The shares of RIL ended 0.21% higher on Wednesday, whereas Future Retail ended in red. Bharti Infratel and Bharti Airtel Bharti Airtel said its subsidiary Nettle Infrastructure Investments had acquired an additional 4.94% stake in Bharti Infratel for ₹2,882.32 crore. With this transaction, Bharti Airtel’s total stake in its mobile tower arm Infratel has increased to 41.66%. The shares of Bharti Infratel ended 4.40% higher on Wednesday, whereas Bharti Airtel ended in 1% higher. Wipro Wipro wins a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. The company said it would develop new features, capabilities and interfaces for Verifone’s Cloud Services offerings, enabling seamless and flexible transaction processing for the company. The shares of Wipro ended 1.8% higher on Wednesday. Dabur The company has responded to a study by the Delhi-based NGO Centre for Science and Environment (CSE) and said that its honey had passed the Nuclear Magnetic Resonance (NMR) test in Germany and it is complying with 22 parameters mandated by FSSAI for testing honey. The CSE study shows that 10 of the 13 brands of honey sold in India, including Dabur had failed the NMR test. The shares of Dabur ended 0.61% lower on Wednesday. DHFL The Committee of Creditors for cash-strapped DHFL has voted in favour of inviting revised bids. And, December 14 has been set as the new deadline to submit bids. The shares of DHFL ended 5% higher on Wednesday. Raymond Raymond’s subsidiary Silver Spark Apparel has entered into a share transfer agreement to divest its entire stake in its subsidiary Dress Master Apparel for ₹19.07 crore. The shares of Raymond ended 0.36% lower on Wednesday. Tata Chemicals Tata Sons bought shares worth ₹76 crore in Tata Chemicals. The shares of Tata Chemicals ended 6% higher on Wednesday. SpiceJet SpiceJet intends to expand its cargo business considerably over the next two years, after great success during the pandemic, the company’s Chairman and Managing Director, Ajay Singh said in their annual report. The shares of SpiceJet ended 4% higher on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms" data-type="tilCustomLink">Burger King India IPO opens today — brokerages recommend ‘subscribe’ on attractive valuations</a> <a href="https://www.businessinsider.in/india/news/delhi-chalo-no-breakthrough-in-talks-government-seeks-farmers-objections-suggestions-on-farm-laws/articleshow/79521894.cms" data-type="tilCustomLink">Delhi Chalo: No breakthrough in talks, government seeks farmers' objections, suggestions on farm laws</a> <a href="https://www.businessinsider.in/science/news/china-just-landed-its-change-5-spacecraft-on-the-moon-the-mission-could-bring-moon-rocks-to-earth-for-the-first-time-in-40-plus-years-/articleshow/79520221.cms" data-type="tilCustomLink">China just landed its Chang'e-5 spacecraft on the moon. The mission could bring moon rocks to Earth for the first time in 40-plus years.</a>

Top stocks to watch — Future Retail, RIL, Bharti Infratel, Airtel, Wipro, Dabur, DHFL, SpiceJet, and others

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Bharti to acquire about 24.5% stake in BT Group from Altice UK; deal estimated at $4 bn

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Bharti Airtel net profit tanks 31% to ₹2,072 cr in Q4

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Top stocks to watch — Future Retail, RIL, Bharti Infratel, Airtel, Wipro, Dabur, DHFL, SpiceJet, and others

Navdeep Yadav

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