The French-Israeli billionaire Patrick Drahi has revealed that he has built a 12.1 per cent stake in BT, making him the biggest shareholder. In a statement to the stock market this morning, Drahi said that he was supportive of BT’s strategy and held the management team in “high regard”. He said he had made the investment because BT “has a compelling opportunity to deliver one of the UK government’s most important policies, namely the substantial expansion of access to a full-fibre, gigabit-capable broadband network throughout the UK”. SponsoredThe investment appears to be a vote of confidence in BT and in the government’s levelling up agenda, at least for now. Drahi has informed the BT board that he does not intend to make

Source: The Times June 10, 2021 07:52 UTC