» ISP News » 
Sponsored Links

Latin America’s Richest Man Takes 3.2 Percent Stake in BT Group

Thursday, Jun 13th, 2024 (7:39 am) - Score 1,040

The richest man in Latin America, Carlos Slim (worth around £72bn), has just become one of the largest shareholders in UK telecoms and broadband giant BT Group. The telecoms billionaire has taken out a 3.2% stake in the company, which is said to be worth around £400 million, but his intentions remain unclear.

At present BT’s biggest shareholder is still French billionaire Patrick Drahi via Altice UK, which holds a 24.5% stake in the business. After that it’s T-Mobile Holdings Ltd. (aka – Deutsche Telekom) on 12%, BNP Paribas (Suisse) SA on 10.8% and, until today, it then dropped all the way down to Schroder Investment Management Ltd. on just 2.12% and so forth.

Until now most of the speculation around a possible takeover of the business has tended to focus on Altice UK, but their stake currently sits just below the important 25% threshold for marking out a person with significant control (PSC) of a company.


German telecoms giant Deutsche Telekom (DT) is another company that has often – for as long as we can remember – been speculated to hold a wider interest BT (here), which may yet conceivably involve doing a deal with one of BT’s other shareholders. But so far nothing has ever come of that.

A spokesman for Mr Slim’s conglomerate, Grupo Carso, told the FT (paywall) that this move was merely a “financial investment, like many the group makes“. Meanwhile a spokesperson for the BT Group welcomed “any investor who recognises the long-term value of our business. We have frequent communication with all of our shareholders and meet with major investors on a regular basis. We look forward to engaging with Inbursa, just as we do with all investors.”

The move comes after BT’s new CEO, Allison Kirkby, updated the operator’s business strategy with plans to double cash flow over the next five years, slash around £3bn of costs and boost the dividend. The changes have helped to give BT Group’s share price a much-needed boost.

However, it remains unclear whether the Mexican billionaire’s move is part of a grander plan or merely a long-term strategy to pick up assets that may be viewed as undervalued today, but which could pay back much more in the future (this is currently the most likely scenario).


As for BT itself, they could be said to have overcome some of the obstacles and uncertainties that often-discouraged potential bidders in the past, although there are still plenty of hurdles for a suitor to consider (e.g. the increasingly competitive full fibre market, the high level of debt, political opposition and so forth). But to do anything serious here would require a green light from the UK Government, which has already shown investors like Altice UK that they can act if needed (here).

Share with Twitter
Share with Linkedin
Share with Facebook
Share with Reddit
Share with Pinterest
Tags: , ,
By Mark Jackson
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook and .
Search ISP News
Search ISP Listings
Search ISP Reviews

Leave a Reply

Your email address will not be published. Required fields are marked *

Comment moderation is enabled. Your comment may take some time to appear.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NOTE: Your comment may not appear instantly (it may take several hours) due to static caching or random moderation checks by the anti-spam system.
Javascript must be enabled to post (most browsers do this automatically)

Privacy Notice: Please note that news comments are anonymous, which means that we do NOT require you to enter any real personal details to post a message. By clicking to submit a post you agree to storing your comment content, display name, IP, email and / or website details in our database, for as long as the post remains live.

Only the submitted name and comment will be displayed in public, while the rest will be kept private (we will never share this outside of ISPreview, regardless of whether the data is real or fake). This comment system uses submitted IP, email and website address data to spot abuse and spammers. All data is transferred via an encrypted (https secure) session.

NOTE 1: Sometimes your comment might not appear immediately due to site cache (this is cleared every few hours) or it may be caught by automated moderation / anti-spam.

NOTE 2: Comments that break our rules, spam, troll or post via known fake IP/proxy servers may be blocked or removed.
Cheap BIG ISPs for 100Mbps+
Community Fibre UK ISP Logo
Gift: None
NOW £24.00
Gift: None
Virgin Media UK ISP Logo
Virgin Media £26.00
Gift: None
Vodafone UK ISP Logo
Vodafone £26.50 - 27.00
Gift: None
Zen Internet UK ISP Logo
Zen Internet £28.00 - 35.00
Gift: None
Large Availability | View All
New Forum Topics
Cheapest ISPs for 100Mbps+
Gigaclear UK ISP Logo
Gigaclear £17.00
Gift: None
BeFibre UK ISP Logo
BeFibre £19.00
Gift: None
Community Fibre UK ISP Logo
Gift: None
YouFibre UK ISP Logo
YouFibre £22.99
Gift: None
Hey! Broadband UK ISP Logo
Gift: None
Large Availability | View All
The Top 15 Category Tags
  1. FTTP (5720)
  2. BT (3569)
  3. Politics (2602)
  4. Openreach (2342)
  5. Business (2323)
  6. Building Digital UK (2277)
  7. FTTC (2061)
  8. Mobile Broadband (2039)
  9. Statistics (1830)
  10. 4G (1724)
  11. Virgin Media (1674)
  12. Ofcom Regulation (1494)
  13. Fibre Optic (1426)
  14. Wireless Internet (1417)
  15. FTTH (1383)

Copyright © 1999 to Present - ISPreview.co.uk - All Rights Reserved - Terms , Privacy and Cookie Policy , Links , Website Rules , Contact