Shares in BT have risen this morning after Mexican billionaire Carlos Slim acquired a 3.2% stake in the FTSE 100 firm for 拢400 million.
Slim is the owner of Am茅rica M贸vil and several other huge companies in Latin America. The stake – the fourth-largest in BT – was acquired by three companies controlled by the former world鈥檚 richest man.
Shares in telecoms firm BT Group plc climbed more than 3% in two hours this morning after news of the deal emerged, from 129p to almost 133p.
BT鈥檚 largest shareholder is French billionaire Patrick Drahi, via Altice UK, which holds a 24.5% stake – below the 25% threshold for marking out a person with significant control.
T-Mobile Holdings Ltd – also known as Deutsche Telekom – retains a 12% stake, with BNP Paribas (Suisse) SA following on 10.8%.
BT said it 鈥渨elcomes any investor who recognises the long-term value of our business鈥� we look forward to engaging with Inbursa, just as we do with all investors鈥�.
Last month new chief executive Allison Kirkby said BT had hit a 拢3 billion target for gross annualised cost savings a year ahead of schedule, causing the share price to rise from just above 100p – where it had remained since January – to above 130p.
She added that BT would cut another 拢3bn of costs and increase its dividend.
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