India’s Bharti to buy Drahi’s stake in BT, worth $4 billion

India’s Bharti Enterprises said it would acquire a 24.5% stake in BT (BT.L), opens new tab, paying around 3.2 billion pounds ($4 billion) to buy out the British company’s top investor, Patrick Drahi, as his Altice group struggles with high debts.

Bharti, which owns the Bharti Airtel brand operating in 17 countries across South Asia and Africa, said on Monday it had no intention of buying all of BT, the former state monopoly which is Britain’s biggest broadband and mobile company.