BT shares rise after Bharti Enterprises acquires 25% stake, market value up 7%.

From Morningstar: 2024-08-12 10:03:00

Shares in BT surged after India’s Bharti Enterprises acquired a near 25% stake. The deal, involving a purchase from French firm Altice, raised BT’s market value by 7%, yet remains below Morningstar’s fair value estimate of 200p. Bharti’s interest in BT primarily focuses on Openreach’s potential for new fiber networks. BT CEO Alison Kirkby welcomed the investment as a sign of confidence in the company’s future, highlighting BT’s appealing 6% yield and narrow economic moat.



Read more at Morningstar: BT Shares Rise on Bharti Deal