Saudi Press

Saudi Arabia and the world
Thursday, Sep 18, 2025

Billionaire’s stake in BT faces security probe

Billionaire’s stake in BT faces security probe

The government is to examine French billionaire Patrick Drahi's increased stake in BT over national security concerns, the telecoms giant has said.

Mr Drahi's company, Altice, increased its investment from 12% to 18% in December, prompting speculation the firm could face a takeover bid.

The Business Secretary will now probe the move using new powers under the National Security and Investment Act.

BT said it would co-operate with the review.

In a statement, BT said that business secretary Kwasi Kwarteng was exercising his "call-in power" under the National Security and Investment Act 2021.

The new legislation came into force earlier this year, giving the government powers to scrutinise, impose conditions on, or block acquisitions on national security grounds.

BT is in the middle of a transformational programme to build a national broadband fibre network, a strategy crucial both to the company and the government, which says it wants to boost regional growth.

Shares in BT fell 4% in morning trading in London.

Mr Drahi, who also owns auction house Sotheby's, first began buying BT shares last June. His purchase of just over 12% of the company, worth £2.2bn at the time, made him the largest shareholder.

He now owns 18% of BT - 12% short of 30% at which point the takeover rules would force him to make an offer for the whole company.

Mr Drahi's stake-building in BT sparked rumours about other possible bidders.


Timing 'no surprise'


When news emerged of Mr Drahi's increased stake in December, Altice said it did "not intend to make an offer for BT".

Under British takeover rules, that barred Mr Drahi from making such a move for six months.

Karen Egan, a telecoms analyst at Enders Analysis, says that explains the timing of this probe.

"That was December, and we're now almost in June, so it's no surprise we're seeing this now," Ms Egan said.

She said that the government was attempting to "get ahead of the situation" and send a message to Mr Drahi "not to assume" that a bid would be allowed.

"The new bill is designed to protect assets exactly like BT," she said.

"The government is quite sensitive over this, primarily on security grounds. It's very unlikely that they'd be happy with Mr Drahi taking over BT."


Who is Patrick Drahi?


* Born in Morocco to a Jewish family in 1963

* French, Israeli and Portuguese citizenship

* Based in Switzerland

* Founded Altice, a French multinational telecoms group

* Owns Sotheby's auction house

* Worth $6.7bn (£5.3bn), and is one of the world's top 400 billionaires, according to Forbes

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Did the Houthis disrupt the internet in the Middle East? Submarine cables cut in the Red Sea
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
×