Bharti raises USD 1.8 billion from Barclays for BT stake buy

Bharti Group has raised about $1.8 billion from Barclays for its proposed acquisition of a 24.5% stake in the UK’s BT Group, according to people familiar with the development. A clutch of international banks may look to provide additional funding depending on the group’s requirement for more debt for the deal, they said.

The acquisition of 9.99% stake in BT via open market trade is being made by Bharti Global, the international arm of Bharti Enterprises, through Bharti Televentures. The remaining 14.51% will be bought after it gets regulatory clearances.