Insiders have revealed that Bharti Group, led by Sunil Mittal, is evaluating the possibility of increasing its stake in BT Group as the new CEO, Allison Kirkby, continues to implement a transformation plan involving business restructuring and cost reduction. However, the insiders emphasized that Bharti Group will not proceed with the stake increase until the conversion of existing preferred shares into common stock is completed. This technical arrangement involves an equity conversion valued at approximately £2 billion and is expected to be finalized in the coming months.
A spokesperson for BT Group declined to comment on the matter. Bharti Enterprises reiterated that there are currently no plans to exceed its disclosed 24.5% stake in BT Group. Nevertheless, market analysts suggest that given the Mittal family's strong presence in the African and Asian telecom markets, this potential equity change could trigger a new wave of restructuring in the European telecom landscape.
