Ministers have made it clear for an Indian billionaire to buy almost a quarter of BT.
Sunil Bharti Mittal’s conglomerate Bharti Enterprises agreed to buy the 24.5 percent stake held by embattled French tycoon Patrick Drahi in August.
The government approved the plan after a detailed national security assessment and assurances from the telecom group.
BT will establish a national security committee within the company to oversee “strategic work it undertakes that impacts or relates to the national security” of the country, a government spokesperson said.
The government said the proposed measure would limit the risk to national security, given BT’s role in supporting state initiatives in the telecommunications sector and ensuring the country’s cyber security.
Bharti said in August that it did not plan to make an offer for the entire company.
Approved: Indian billionaire Sunil Bharti Mittal (pictured) has agreed to buy a 24.5% stake in BT through his conglomerate Bharti Enterprises
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