Former BT boss Gavin Patterson has defended the controversial French investor Patrick Drahi amid fears over what he is planning for the telecoms group.
Patterson, who led BT from 2013 to 2019, said he was ‘not concerned’ that Drahi has built up an 18 per cent stake in Britain’s leading phone and broadband provider.
His comments come despite increased speculation the company could face a takeover bid from the Frenchman.
‘Not concerned’: Gavin Patterson’s comments come despite increased speculation BT could face a takeover bid from Patrick Drahi
Drahi’s telecoms firm, Altice, took a 12 per cent stake in June 2021 and upped it to 18 per cent last December.
Drahi, who also owns auction house Sotheby’s, is worth an estimated £3billion.
Patterson told the Mail: ‘The investment doesn’t make me nervous. I know Patrick, he’s a very smart businessman.
‘He’s a reputable investor with investments all round the world including the US, so to invest in the UK isn’t remarkable.’
In August, a Government review ruled Drahi could keep his stake in BT after it found it did not threaten national security.
Patterson added: ‘The oversight by regulators and the Government and security services is very strong, so I don’t feel concerned. Whoever’s making investments in telecoms is being looked at and considered.’
Patterson left BT in 2019 and was replaced by Philip Jansen, who is overseeing a huge overhaul.
Patterson moved to US sales software firm Salesforce, where he is president and chief strategy officer but is stepping down next year, in part because his family did not relocate.
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