---
title: "Drahi takes BT biggest shareholder stake close to 25pc"
publisher: "Share Talk"
author: "sharetalk"
published: "2023-05-23T07:54:57+00:00"
modified: "2023-05-23T07:54:57+00:00"
date: 2023-05-23
canonical: "https://www.share-talk.com/drahi-takes-bt-biggest-shareholder-stake-close-to-25pc/"
category: "B2B"
categories: ["B2B", "Blogs", "Business & Support Services", "Technology", "Technology, Media & Telecoms"]
tags: ["broadband", "BT", "company", "connections", "cost-cutting", "ENERGY", "Ofcom", "Openreach", "Philip Jansen", "pretax", "Prices", "Profits", "program", "Regulator", "Share Talk", "telecom", "telecoms"]
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format: "news"
language: "en-GB"
---

# Drahi takes BT biggest shareholder stake close to 25pc

**Published:** May 23, 2023
**Author:** sharetalk
**Categories:** B2B, Blogs, Business & Support Services, Technology, Technology, Media & Telecoms
**Tags:** broadband, BT, company, connections, cost-cutting, ENERGY, Ofcom, Openreach, Philip Jansen, pretax, Prices, Profits, program, Regulator, Share Talk, telecom, telecoms
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1)

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Altice, the largest shareholder of **BT Group PLC (LSE: BT.A),** led by billionaire Patrick Drahi, has raised its stake by acquiring an additional 650 million shares.

With this, Altice now owns roughly 24.5% of the UK telecom company, though it has reiterated that it has no intention of making a takeover bid.

Drahi initially purchased a 12.1% stake in June 2021, attracted by the prospects of the nationwide launch of next-generation broadband. Later that year, he raised this share to 18%. Drahi, the founder and current chairman of Altice since 2001, expressed that the investment reflected his confidence in BT, considering the UK government’s ambition to proliferate full-fibre, gigabit-speed broadband throughout the country.

In August 2022, the UK government concluded that this investment did not pose a risk to national security.

However, BT’s shares experienced a substantial drop last week following the company’s announcement of a substantial workforce reduction plan. The company intends to eliminate between 40,000 and 55,000 jobs, equating to up to 42% of its workforce, by the end of the decade to streamline operations and create a more sustainable future.

This job-cut strategy, involving both BT employees and third-party contractors, is scheduled to be implemented between 2028 and 2030.

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**Original URL:** https://www.share-talk.com/drahi-takes-bt-biggest-shareholder-stake-close-to-25pc/
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