Altice takes 12% stake in BT, says no plans to make takeover offer

Patrick Drahi’s Altice Group said on Thursday that it had taken a 12.1% stake in Britain’s BT Group becoming its largest shareholder.

“Altice holds the Board and Management team of BT in high regard and is supportive of their strategy. Altice UK has informed the BT Board that it does not intend to make a takeover offer for BT,” Altice UK, a company formed for the purpose of holding the BT stake, said in a statement.