BT’s board, and government ministers, are on red alert as French billionaire Patrick Drahi plots his next move on the company.
The 58-year-old tycoon bought a 12.1 per cent stake in BT in June – making him the largest shareholder.
Towering threat: French billionaire Patrick Drahi bought a 12.1 per cent stake in BT in June – making him the largest shareholder
City rules meant he was barred from adding to his holding for six months – a period that ends today.
Speculation has been rife that Drahi will raise his stake and seek a seat on the board.
A Whitehall source said: ‘If an attempt to buy [BT] comes forward it will end up on a minister’s desk and the Government will have to make a decision.’
The source said BT is a ‘huge asset’ to the UK.
