After a months-long investigation under British national security law, Patrick Drahi is authorized to take a stake in the operator BT.
The UK government announced yesterday that it would take no further action regarding Altice’s acquisition of 5.9% of BT’s shares.
The boss of the Altice holding had acquired in June of last year 12.1% of the capital of the main British operator, before increasing his share to 18% a few months later. The investigation focused on this second operation, while the arrival of the businessman on the English market had created a surprise.
Future transactions will not be immune from investigation
Patrick Drahi’s investment had sparked speculation about his intentions, recalls the Guardian. This investment could pave the way for further increases in its stake.
But the UK government signed off in its statement on Tuesday that the move is for a single investment only, and that “acquisitions are assessed on a case-by-case basis, so any future transactions may be subject to separate assessment depending on under this law”.