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On August 13, 2024
5 Sources
[1]
Bharti's BT Group deal could open doors for the 'real East India Company' to flourish
Bharti Airtel and BT have had a synergistic relationship for over two decades. The latter owned 21% stake along with two board seats in Bharti Airtel from 1997 to 2001. During the last two decades, the Sunil Mittal-led Indian telecom giant has surged ahead, reaching a market capitalisation of Rs8.26 lakh cr. Bharti Enterprises acquiring 24.51% stake in BT this week for $4 bn now makes it one the biggest outbound deals by an Indian company. BT is Britain's biggest broadband and mobile company with a market cap of £13.8 bn (about Rs1.48 lakh cr). The acquisition involves the purchase of equity from Altice UK, owned by Israeli-French telecom billionaire Patrick Drahi, who also owns auction house Sotheby's. Bharti Televentures UK has already secured a 9.99% stake in BT through an open market trade and plans to acquire the remaining 14.51% after receiving the necessary regulatory clearances. Led by Barclays Bank and Linklaters as key advisors, the complex deal was stitched smoothly. On completion, Bharti Enterprises will emerge as the largest shareholder of BT. This move also reflects the deepening ties between Indian and British business, coming soon as it does after the visit of British foreign secretary David Lammy last month. Britain and India had then announced the launch of a new technology security initiative to foster cooperation in critical emerging technology. According to India's high commissioner to Britain Vikram Doraiswami the Bharti acquisition 'will support BT's plans to build fibre, roll out 5G, and develop services'. As part of the regulatory process, the Bharti Group has voluntarily applied for clearance under the UK National Security and Investment Act, ensuring full compliance with British regulations. Britain's withdrawal from the EU in 2020 has deepened Britain-India relations, with India becoming the second-largest source of FDI in Britain -- 961 Indian companies generating $65 billion in revenue. Earlier, the trend was reflected in several significant acquisitions by Indian companies. The Tata Group acquired Tetley Tea in 2000 for £271 mn, Jaguar Land Rover in 2008 for $2.3 bn, and Corus Group in 2007 for $12 bn, renaming it Tata Steel Europe. Last year, Tata announced a $5.1 bn investment in a British EV battery factory. Reliance Industries acquired British battery tech company Faradion earlier in 2021 for $135 mn, not to mention the branded toystore chain Hamleys in 2019 for $88.5 mn. Wipro bought Britain-based consultancy firm Capco in 2022 for $1.45 bn. Eicher Motor, known for its Royal Enfield motorcycles, acquired the iconic British brand Royal Enfield. Mahindra & Mahindra revived the historic BSA Motorcycles brand in 2021. TVS Motor Company acquired British bikemaker Norton in 2020, and later bought a 70% stake in EBCO for e-bike production in Britain. Wadhawan Global Capital led a £32 mn investment in British digital bank Zopa in 2017. With 14 rounds completed, negotiations for the India-Britain FTA, which has bipartisan support, are slated to resume soon. The FTA aims to double bilateral trade by 2030, currently almost £40 bn, benefitting India's textiles, apparel and gems sectors. India-Britain collaboration in critical areas such as AI, semiconductors, and high-performance computing is also in the works. British firm SRAM & MRAM Technologies has pledged investments of Rs30k cr in Odisha towards India's semiconductor ecosystem. The bilateral Technology Security Initiative (TSI) was launched last month and spearheaded by national security advisors of both countries, Ajit Doval and Tim Barrow. TSI aims to expand collaboration in key sectors such as telecom, critical minerals, AI, quantum, health-biotech, advanced materials and semiconductors. Bharti's acquisition of a strategic stake in BT, along with renewed India-Britain relations, should open doors for synergies in the telecom industry. Bharti's involvement could facilitate access to advanced telecom technologies and foster more collaborations. This will potentially boost bilateral trade and create opportunities for Indian startups and tech firms in the British market. You could say, the real East India Company is up to some serious business with the island nation. (The writer is former Additional Secretary, Telecom, GoI)
[2]
After BT, Bharti may consider more opportunities in Europe
Bharti group is ready to take the initiative to make investments in developed markets after having cemented its position in the India market over the years, said Sunil Mittal. The Bharti group's European foray through a 24.5% share buy in BT Group Plc was a signal that Indian business groups like itself were ready to take the global stage, said Bharti Enterprises Ltd chairman Sunil Mittal, highlighting that the steps into global markets were backed by the Indian government. "The Indian government is continuously encouraging a handful of companies that have gone global to accelerate the process. We operate in 16 countries already, and now, having the UK and starting a chapter on the European continent is the next step," Mittal said in an interaction with the media after the announcement on Monday. Bharti Televentures UK Ltd, a wholly owned subsidiary of Bharti Enterprises' international investment arm Bharti Global, will buy the equity in the UK's largest mobile and broadband services provider from telecom services provider Altice UK, which has a 24.5% stake in BT. Bharti Televentures will buy 9.99% of BT from Altice immediately, and the remaining 14.51% after receiving regulatory clearances. The Bharti group was ready to take the initiative to make investments in developed markets after having cemented its position in the India market over the years and created a global telecom major Airtel that now boasts of strong cash flows, even as it took a break from overseas investments in telecom after entering Africa in 2008, Mittal said. Mittal indicated that Altice's 24.5% stake of BT's £14 billion market cap could be valued at about £3.4 billion. Altice is owned by Israeli-French telecom billionaire Patrick Drahi, who also owns auction house Sotheby's. Bharti group has voluntarily applied for clearance under the UK National Security and Investment Act, as part of the regulatory clearing process. Indian companies' investments in UK-based companies have yielded mixed results. Jaguar Land Rover (JLR) has experienced fluctuations but is currently driving Tata Motors Ltd, while Tata Steel Ltd's acquisition of Corus has become a burden for its Indian parent. Bharti comes a full circle with the acquisition of BT shares, Mittal said, as the British group had held a 21% stake in Bharti Airtel between 1997 and 2001, and now the Bharti group has become the single largest shareholder in the entity. Mittal clarified that the Bharti group was not buying any additional stake and it did not have any intention to manage the telecom company, which is also the reason behind it not taking any seats on the board. Mittal noted that the stake buy was a strategic move and financially attractive since European and UK telcos were trading at low multiples. Having gained a foothold in Europe with BT, Mittal said the group's entry into the continent will be strategic and that it was looking at more investment opportunities in the European telecom market. He added that any telecom-related expansion will be done through Airtel, and that the carrier will continue to strengthen its position in India over the next two to three years before it begins to relook at opportunities outside India. "Whenever Airtel makes a move, it needs to not just be an investor, it needs to be an operator. In this particular case, this was an investment, we are not going and operating BT, we are backing their management and their strategy." He noted that during that time frame, the capex requirements of the telecom company will go down and cash flow will become stronger, and at that time, the board may look at global opportunities. "All the investments we have made into Airtel are now yielding great rewards in terms of stock price, market cap, and strong cash flows. This gives us the confidence and opportunities to look beyond India. Airtel is already present in 17 countries and if more opportunities arise, we will not shy away," Mittal added. While Airtel will not be connected to the investment in BT, Mittal said that there may be sharing of best practices between the two telcos owing to the commonality in shareholding. The government lauded Bharti group's move, with commerce and industries minister Piyush Goyal congratulating Sunil Mittal, Rajan Bharti Mittal and Rakesh Bharti Mittal, promoters of Bharti Enterprises. The Indian High Commissioner to the UK, Vikram Doraiswami, also welcomed the deal. "Delighted Bharti Global of India is investing in 24.5% of the shares of UK's BT Group. This will support BT's plans to build fibre, roll out 5G and develop services. This vote of confidence in India-UK is a great step after the Technology Security Initiative," he said in a social media post, PTI reported. "What a proud moment for India. Congratulations to Sunil Bharti Mittal sir and his whole Bharti team," said Vijay Shekhar Sharma, chairman, and managing director of One97 Communications. Allison Kirkby, chief executive of BT Group, said, "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy." Deutsche Telecom will continue to hold 12% stake in BT. "We see this as a positive step for BT. We have a long and good working relationship with Bharti. So, we are looking forward to work together with Bharti in the Board of Directors for the sake of BT shareholders and customers," said Timotheus Höttges, CEO, Deutsche Telecom. Mittal said that the share acquisition will be funded by a mix of equity and financial support from Barclays Bank PLC, which was the sole financial advisor in the transaction. Mittal said such a block of shares was difficult to buy in the market and therefore when the offer was made to the group it was willing as it would increase its presence in the UK, where it has invested across sectors. "Our investments in the UK have been there for the last several years and this is an addition to that journey we've had in that country, to put in more capital at work here, in a sector which we understand, in a company that we know, and importantly in a country that now has a very deep and close relationship with India," he said. Mittal said that Bharti Global, that has had long-term investments in the UK including satellite broadband provider OneWeb which merged with Eutelsat in 2023. The UK government and Bharti Global are shareholders in the company. On being asked about OneWeb-Eutelsat's launch of services in India, Mittal said that the company was ready and had asked the Indian government to allow it to offer services temporarily, till the time the government decides on the methodology of allocating spectrum. Bharti group also has investments in the hospitality and real estate sectors, including Norlake Hospitality. Bharti Global owns marquee hotels including The Hoxton, Scottish resort Gleneagles, while hospitality assets are managed and operated by Ennismore. Mittal referred to the recently concluded visit of UK foreign secretary David Lammy to India, where the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including telecom. India and UK are expected to conclude their free-trade agreement (FTA) talks soon which began in January 2022 with 14 rounds of talks between them before both countries entered their general elections. The two governments are also negotiating a bilateral investment treaty. The group said in the statement issued Monday that it was hopeful of creating new synergies in the telecom sector between both countries in the areas of AI and 5G R&D and core engineering. It added that there was potential to collaborate on industry best practices, and emerging technologies. British Telecom, too, has had a longstanding association with Indian companies. British Telecom had a 50% stake until 2006 in Mahindra group's software arm, Tech Mahindra, then known as Mahindra British Telecom. After Tech Mahindra went public in 2006, British Telecom's stake, which started as a joint venture with Mahindra Telecom in the mid-80s, decreased from 50% to 36%. Subsequently, it sold its entire stake. In 2000, Tata Tea spent £271 million to buy Tetley, In April 2020, TVS spent £16 million to buy Norton Motorcycles.
[3]
In role reversal, Bharti acquire 24.5% of iconic BT in $4 billion deal - Times of India
NEW DELHI: Bharti Global, the international investment arm of Bharti Enterprises, on Monday announced the acquisition of a 24.5% stake in iconic BT Group plc from Altice UK, which will make it the largest shareholder in the company that once owned 21% in Bharti Airtel. Bharti has already acquired 9.9% in the UK's top fixed and mobile communications provider through a market deal.Based on BT's current market value, the entire transaction -- which is subject to regulatory approvals, including security clearance -- is estimated around $4 billion. The deal adds to the list of marquee British companies and brands acquired by Indian entities, including Jaguar Land Rover, Corus and Tetley by Tata, apart from BSA by Mahindra Group and Hamleys by Reliance Brands. "BT to my mind has a much brighter future ahead and they need to be following their strategy, if I may say, even more boldly... We are not in this for making a buck or looking at stock markets up or down. We are long-term telecom investors," Bharti Enterprises chairman Sunil Bharti Mittal said during a call, adding that the investment offered synergies. Flanked by his son Shravin, Bharti Global MD, he pitched it as a strategic deal which was in line with strengthening India-UK ties and offered opportunities on AI, 5G RD and core engineering. Once the transaction is completed, Bharti will own more stake than Deutsche Telekom's 12%. The deal follows Mexican magnate Carlos Slim's 3.2% acquisition in BT two months ago. Despite slower growth opportunities, it marks Bharti's big foray into a developed country market with the group having so far focused on Africa, Bangladesh, Sri Lanka and Seychelles in addition to the home market. "Growth in Europe and the UK is bound to be much... So, growth is very small, 1-2% a year... But the revenue is pretty large, $25 billion of current revenues, and $10 billion in EBITDA... can we create more efficiency, can the free cash flows increase over a period of time...," he said. Mittal said that his group zeroed in on BT from other options that were on the table and indicated that it may opt for more acquisitions in future. "We got this opportunity to buy a very important block of shares. It is very difficult to buy such stock in the market. It takes a long time and there are uncertainties of pricing... here was a block with a willing seller who moved in to make this offer and we quickly decided to take the same," he said. Mittal said that the stability in the Indian business in recent months, which came after some large investments and intense competition, had given the group "the courage to look at the opportunity" and the Indian operations will not be impacted in any way by the investment. BT and British authorities welcomed the transaction as did Indian authorities. "...the wheel has come full circle since 1997 when British Telecom acquired a 21% stake in Bharti Airtel. This acquisition is testimony to the growing strength of India as we march towards Viksit Bharat under the inspirational leadership of PM Modi ji. We thank UK Prime Minister @Keir_Starmer and Foreign Secretary @DavidLammy for their continued support in strengthening business ties between the two countries," commerce & industry minister tweeted. In the past, stake acquisition in companies such as BT has attracted security concerns in the UK and Goyal's tweet suggested that the British govt may be on board. By Mittal's own admission, the transaction marks a departure from his usual style of being "an operator". Instead, his group is not seeking a board seat, at least for the moment. "We see this as a positive step for BT. We have a long and good working relationship with Bharti. So, we are looking forward to work together with Bharti on the board of directors for the sake of BT shareholders and customers," Deutsche Telekom CEO Timotheus Höttges said.
[4]
Bharti to acquire 24.5% stake in BT for USD 4 bn; become single largest shareholder
It, however, did not disclose financial details but market watchers say that at BT's valuation of roughly USD 15 billion, the deal is in the ballpark range of USD 4 billion. Bharti Enterprises Chairman Sunil Bharti Mittal said BT Group's leadership position and strong portfolio of offerings spanning broadband, fibre, mobile and enterprise space marked a "good, long-term investment" opportunity for Bharti Group, and expressed confidence in the "iconic" British telecom giant's strong growth prospects and free cash flow potential for the future. "We got this opportunity to buy a very important block of shares. It is very difficult and hard to buy such stock in the market. It takes a long period of time and there are uncertainties of pricing... here was a block with a willing seller (Altice UK) who moved in to make this offer and we quickly decided to take the same," Mittal told reporters. Bharti, India's second-largest telecom operator with about 400 million subscribers, has had a relationship with BT previously as well. BT owned a 21 per cent stake in Bharti Airtel from 1997 to 2001. Bharti is neither keen on making an offer to acquire the whole of BT nor seeking a board position for now. Altice, an investment conglomerate controlled by billionaire Drahi, is exiting BT as it struggles with high debt. It first took a stake in BT in 2021, acquiring a 12 per cent holding, which it later increased to 24.5 per cent. BT's shares have fallen by about a third since Altice first became an investor. "Bharti Global, the international investment arm of Bharti Enterprises, a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in 24.5 per cent of the issued share capital of BT Group plc from Altice UK," Bharti said in a statement. Bharti hopes the investment will further help create new synergies in the telecom sector between India and the UK in the areas of AI and 5G R&D and core engineering, among others, "offering great potential to collaborate on industry best practices and emerging technologies". Mittal, the top boss of Bharti, said: "Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned a 21 per cent stake along with two board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group's history as we invest in BT - an iconic British company". Bharti's investment in BT aims to support the commitment of Prime Minister Narendra Modi towards his vision of elevating and broadening the India-UK ties, the release said. It noted that during the recently concluded visit of UK Foreign Secretary David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors, including telecom. Mittal said: "This investment in BT aims to support the commitment of our Prime Minister towards his vision in elevating and broadening the India-UK ties". His son Shravin Bharti Mittal, who is the Managing Director of Bharti Global, said: "We review global investment opportunities in the world of technology from digital infrastructure to software. BT is well known to us from the long association with Bharti, so we are pleased to have this opportunity to acquire a significant stake in the company". In an interaction with reporters, he highlighted that BT's investment was "exciting" for many reasons. "It has a perfect combination of a stable cash flow profile from its consumer business...BT's business and growth coming through 'Openreach'...our expectation is that there is enough clarity that the management is delivering, there is clarity of vision and clarity on execution, and it is the right time to enter as an investor in BT," he said. "Our belief is that in the coming years, we will see a significant expansion of the cash flow profile and the timing was rightly suited for us at the international arm for this investment." Meanwhile, BT Group, in a separate statement, said the investment from Bharti is a strong vote of confidence in the future of the British telecom carrier and its strategy. BT Chief Executive Allison Kirkby said: "We welcome investors, who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy". Barclays Bank PLC, acting through its Investment Bank, served as the sole financial advisor and Linklaters LLP served as legal advisor to Bharti Global in connection with the transaction. "Barclays has been the financial advisor for these transactions. They will provide some immediate cash so there will be a mix of equity and some financial support coming from Barclays...," according to Sunil Mittal. Timotheus Hottges, CEO of Deutsche Telecom (which holds a 12 per cent stake in BT), termed the latest announcement as a positive step for BT. "We have a long and good working relationship with Bharti. So, we are looking forward to working together with Bharti on the Board of Directors for the sake of BT shareholders and customers," Hottges said. Union Minister Piyush Goyal, in a post on X, said: "With Bharti Enterprises entering into a binding agreement to acquire a 24.5 per cent strategic stake in the UK's BT Group, the wheel has come full circle since 1997 when British Telecom acquired a 21 per cent stake in Bharti Airtel". PTI MBI MBI BAL BAL
[5]
Big question for BT after Indian billionaire snaps up stake
Sunil Bharti Mittal's conglomerate Bharti Enterprises has bought a 24.5% stake in the company for around £3.2bn. His track record, and the broader context of Indian investment in the UK, gives us some insight into what the deal might mean for the flagship firm's future. BT Group has swapped one billionaire shareholder for another. Sunil Bharti Mittal, the Indian billionaire, announced that his conglomerate Bharti Enterprises had bought the 24.5% stake in BT previously owned by the French billionaire Patrick Drahi. Mr Drahi, the owner of France's second biggest telecoms company Altice, first acquired a 12.1% stake in BT in June 2021 and built it up over time. More recently, though, there had been speculation in the City that he was looking to sell his shareholding in order to pay down some of the estimated $60bn (£47bn) worth of debt that Altice has accumulated. Bharti is thought to have paid around £3.2bn for the stake. Allison Kirkby, BT's newish chief executive, will be far too polite to say so publicly - but it is a fair bet that she will be delighted to see the back of Mr Drahi. The speculation that he was looking to sell his stake in BT had depressed the company's share price, which had long been a cause of frustration to Philip Jansen, her predecessor. BT's shares rose by as much as 7.5% at one point today on the removal of what had been seen as a stock overhang. Ms Kirkby said today: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy. "BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. "They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come." Those sentiments will also doubtless be shared by the UK government. The arrival of Mr Drahi on BT's share register caused unease in Whitehall and, when he topped up his stake to 18% in December 2021, the Johnson government indicated it would intervene in the event of him making a full takeover bid. Vote of confidence The big question is what Bharti, which today ruled out making an offer for BT, intends to do with its shareholding. The Indian company said it supports BT's executive team and strategy and viewed its investment as a "vote of confidence in the UK as an attractive global destination for investment, with a stable business and policy environment attractive for long-term investors". The company noted today it has a "significant record of long-term investments across the UK and longstanding familiarity with BT's business" and pointed out that, from 1997 to 2001, BT had been a significant minority shareholder in Bharti Airtel with a 21% stake. Mr Bharti Mittal, who revealed today he has already met with BT's management, added: "BT to my mind has a much brighter future ahead and they need to be following their strategy, if I may say, even more boldly. "We are not in this for making a buck or looking at stock markets up or down. We are long term telecom investors." Under Mr Jansen the company invested heavily in Openreach, its infrastructure arm, to roll out full fibre to the premises even, at one point, scrapping its dividend to shareholders. Mr Jansen also patched up the company's previously troubled relationship with Ofcom, its regulator, as well as coming up with an inventive solution for its previously troublesome BT Sport business, which was parked in a joint venture with the US media giant Warner Brothers Discovery, with BT retaining an option to sell its shareholding to the latter. Since then Ms Kirkby, who took the helm in February, has stepped up the cost-cutting previously embarked on by her predecessor and announced plans to raise the dividend. BT's latest results, published just under three weeks ago and covering the three months to the end of June, saw underlying operating profits come in ahead of expectations. Arguably, none of this progress has been reflected in BT's share price, which has risen by a quarter during the last six months but which nonetheless has fallen by around a third since Mr Drahi first declared a stake in the company. But those familiar with Mr Bharti Mittal's track record will know he is not just a value investor. He said today that he saw the stake in BT as a way of building synergies between the UK and India in areas such as artificial intelligence, engineering and research and development on 5G networks. This is also something close to the heart of the new UK government. Last month, during a trip to Delhi by the new foreign secretary David Lammy, the UK and India announced a Technology Security Initiative under which they pledged to collaborate more deeply in a number of sectors - chief among them telecoms. So today's announcement has to be seen very much in that context. It also has to be seen in the broader context of Indian investment in the UK. Bharti is merely the latest in a long list of big Indian corporates to have invested in flagship UK enterprises. The Tata Group bought Corus, the UK's biggest steelmaker, as long ago as 2007 and a year later followed that by buying Jaguar Land Rover from Ford. Even before that, in 2000, it bought the Tetley tea brand. Other big investors include Mahindra & Mahindra, which in 2016 acquired the motorcycle manufacturer BSA and Chennai-based TVS Motors, which in 2020 bought the storied motorcycle manufacturer Norton. A third UK motorcycle brand, Royal Enfield, has been part of Delhi-based Eicher Motors for 30 years. Other well-known UK brands with Indian owners include Christy, inventor of the world's first cotton towel, which was bought in 2010 by Mumbai-based Welspun India. All of these businesses have proved themselves to be good owners of UK assets and, crucially, in it for the long term. Bharti's fellow investors in BT - which include Deutsche Telekom and the Mexican billionaire Carlos Slim - will hope this proves the case here.
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Bharti Enterprises, led by Indian billionaire Sunil Mittal, has acquired a 24.5% stake in British telecom giant BT Group for $4 billion. This landmark deal marks a significant shift in the global telecom industry and opens new opportunities for both companies.
In a groundbreaking move, Bharti Enterprises, the Indian telecom conglomerate led by billionaire Sunil Mittal, has acquired a 24.5% stake in British Telecom (BT) Group for $4 billion. This acquisition marks a significant milestone in the global telecom industry, positioning Bharti as the single largest shareholder in one of Britain's most iconic companies 1.
The deal represents a remarkable role reversal, with an Indian company taking a substantial stake in a former colonial-era entity. This acquisition is not just a financial transaction but a strategic move that could reshape the telecom landscape. Bharti's investment in BT is expected to bring synergies in areas such as enterprise business, submarine cable networks, and data centers 3.
Following this landmark deal, Bharti may consider more opportunities in Europe. The company's chairman, Sunil Bharti Mittal, has expressed interest in exploring further investments in the region. This move aligns with Bharti's global ambitions and could potentially lead to more strategic partnerships or acquisitions in the European telecom sector 2.
For BT Group, this deal brings both opportunities and challenges. The injection of capital and expertise from Bharti could help BT accelerate its fiber broadband rollout and 5G expansion plans. However, it also raises questions about the future direction of the company and potential changes in its strategy 5.
The acquisition is subject to regulatory approvals, including clearance from the UK government under the National Security and Investment Act. Given the strategic importance of telecommunications infrastructure, the deal will likely face scrutiny to ensure it aligns with national security interests 4.
This deal signifies a shift in the global economic order, with emerging market companies increasingly taking stakes in established Western firms. It reflects the growing economic power of India and could pave the way for more such investments by Indian companies in global markets. The acquisition also highlights the interconnected nature of the global telecom industry and the potential for cross-border collaborations to drive innovation and growth 1.
Reference
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Bharti Group's acquisition of a 24.5% stake in British Telecom marks a significant move in Indian companies' growing investments in the UK tech sector. This trend highlights the increasing global presence of Indian businesses.
2 Sources
SoftBank India head Sumer Juneja discusses the evolving tech IPO market in India, the company's investment approach, and the potential for future listings. The article also covers recent developments in the Indian startup ecosystem.
3 Sources
India and the United Kingdom have unveiled a joint Technology Security Initiative (TSI) aimed at strengthening cooperation in critical and emerging technologies. This ambitious project marks a significant step in the strategic partnership between the two nations.
7 Sources
Leading telecom operators, including Reliance Jio and Airtel, join Ericsson's initiative to create a global marketplace for network APIs, aiming to revolutionize the telecom industry and unlock new revenue streams.
4 Sources
BT Group, one of Britain's largest telecom providers, reports an alarming increase in cybersecurity threats, with its network facing 2,000 potential attacks every second. The company emphasizes the critical need for enhanced security measures in the face of evolving cyber risks.
2 Sources