UK GOV TO TAKE NO FURTHER ACTION ON BT SHARE ACQUISITION

Publishing Date: Aug 23, 2022

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The government has decided to take no further action on the acquisition of 5.9% shares by Altice in BT.

 

The acquisition by Altice of 5.9% shares in BT was called in for a full national security assessment by Business Secretary Kwasi Kwarteng on Thursday 26 May.

The government has powers under the National Security and Investment Act 2021 to scrutinise and, if necessary, intervene in qualifying acquisitions on national security grounds.

Following careful consideration, the government will take no further action on the acquisition of 5.9% shares by Altice in BT and the Final Notification has been issued to parties.

The government will always act to protect the UK’s critical national telecoms infrastructure if we judge action is necessary. Under the National Security and Investment Act, acquisitions are assessed on a case by case basis, so any future transaction could be subject to a separate assessment under the Act.

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