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Evening Standard

Business

Simon English

BT takeover could be back on after govt waves through French billionaire stake

BT Patrick Drahi Altice Philip Jansen

Patrick Drahi of Altice
(Picture: REUTERS)

THE chances of a £20 billion takeover of BT by French billionaire Patrick Drahi grew today when the government waved away security concerns and said it would take “no further action” over his 18% stake.

Drahi’s Altice group took a 12% stake in the telecom giant a while ago, and has increased it since.

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