Patrick Drahi eyes seat in BT boardroom

Analysts imagine Patrick Drahi will take a seat on the board of BT by shopping for Deutsche Telekom’s stake in the group










Patrick Drahi will take a seat on the board of BT by shopping for Deutsche Telekom’s stake in the group, analysts imagine. 

The French billionaire owns a 12.1 per cent stake in the British telecoms large by way of his agency Altice. 

When he purchased the stake in June he dominated out making a full takeover provide. 

Signing on: It is believed Patrick Drahi will purchase the 12 per cent owned by German large Deutsche Telekom and take its seat on the BT board

Under City guidelines, that meant he couldn’t purchase any extra shares for six months. 

The freeze ends per week at the moment – on December 11 – when Drahi will have the ability to make his subsequent transfer. 

It is believed he’ll purchase the 12 per cent owned by German large Deutsche Telekom and take its seat on the BT board. 

He would be a part of alongside chairman Adam Crozier, the previous boss of Royal Mail and ITV who began on Wednesday. 

Carl Murdock-Smith, telecoms analyst at funding financial institution Berenberg, stated a full-blown takeover is unlikely due to BT’s standing as a ‘strategic asset’. 

He stated the Government was more likely to intervene in any such transfer. He stated: ‘I don’t assume Drahi will attempt to bid for BT general as a result of he’ll recognise these points and recognise that he wouldn’t succeed. He will realise the political sensitivities round this.’ 

The finish of Drahi’s tie-up comes amid a flurry of takeover hypothesis round BT. 

AJ Bell monetary analyst Danni Hewson stated personal fairness companies are waking as much as the concept there may be ‘money to be made’ in telecoms. 

She stated: ‘When Altice took on a 12 per cent stake of BT in the summer season everybody sat up and took discover.’ 

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