Ministers have given the green light for an Indian billionaire to buy nearly a quarter of BT.
Sunil Bharti Mittal’s conglomerate Bharti Enterprises agreed to buy the 24.5 percent stake held by French tycoon Patrick Drahi in August.
The Government has approved the plan following a national security review and assurances from the telecoms group.
BT will set up a national security committee within the company to oversee the country’s ‘strategic actions relating to national security’, a Government spokesman said.
The Government said it would reduce the risk to national security as BT’s role was to support government initiatives in the telecommunications sector and ensure the country’s cyber security.
Bharti said in August that it had no plans to make an offer to buy the entire company.
Agreed: Indian billionaire Sunil Bharti Mittal (pictured) has agreed to buy a 24.5% stake in BT through his Bharti Enterprises group.
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