Altice UK S.à r.l (“Altice UK”)
Statement regarding BT Group plc (“BT” or “the Company”)
Altice UK – a company established and wholly owned by Patrick Drahi – announces today that it has acquired a further 585,476,188 shares in BT, increasing its ownership to 1,785,476,188 shares, which represents 18.0% of BT's issued share capital.
Altice UK has restated its position to the Board of BT that it does not intend to make an Offer for BT and will be bound by that statement for the purposes of Rule 2.8 of the UK's Takeover Code.
Patrick Drahi has stated:
“We are pleased to take this opportunity to increase our shareholding in BT. Over recent months we have engaged constructively with the Board and Management of BT and look forward to continuing that dialogue. We continue to hold them in high regard and remain fully supportive of their strategy, principally to play the pivotal role in delivering the expansion of access to a full fibre broadband network; an investment programme which is so important to both BT and to the UK.”