Bharti group seeks UK support to raise BT stake

LONDON: Indian conglomerate Bharti Enterprises is seeking to potentially increase its stake in BT to just under the threshold that would require it to make a full takeover offer for the British telecoms group, three people familiar with the matter said.

Led by ‌billionaire founder, Sunil ⁠Bharti ⁠Mittal, the group is looking to secure UK government approval required for it to be able to increase its stake in the London-listed company, the people said, speaking on condition of anonymity because the matter is private.