Acquisition of 24.5% of the issued share capital in BT Group plc by Bharti Televentures UK Limited: notice of final order
Published 16 December 2024
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1. Following a detailed national security assessment, the Chancellor of the Duchy of Lancaster has made a Final Order pursuant to section 26 of the National Security and Investment Act 2021 (“the Act”), which comes into force on 16 December 2024.
2. The order applies to the following Parties:
i. BT Group plc (“BT”) together with any subsidiary, controlled entity or affiliate;
ii. Bharti Televentures UK Limited.
3. Bharti Televentures UK Limited acquired 24.5% of the issued share capital of BT: 9.99% on 12 August 2024 and 14.51% on 18 November 2024 (“the Acquisition”).
4. The Acquisition is a trigger event under section 8(8) of the Act.
5. The Chancellor of the Duchy of Lancaster has approved the Acquisition, on the basis that BT will establish a National Security Committee within BT to oversee strategic work that BT performs which has an impact on or is in respect of the national security of the United Kingdom.
6. The Chancellor of the Duchy of Lancaster considers that the Final Order is necessary and proportionate and that this measure mitigates the risk to national security in relation to BT’s role:
i. supporting the UK Government’s domestic and international initiatives in the telecommunications sector;
ii. ensuring the UK’s cyber security;
iii. acting as a strategic supplier of services to many parts of the UK Government, including services which are in support of UK national security.