UK draws line on Bharti’s BT stake

The British government would oppose any attempt by Indian billionaire Sunil Bharti Mittal to increase his stake in telecom group BT, the Financial Times reported, citing people familiar with the matter.

The UK’s objection is based on the need to maintain sovereign control over “critical national infrastructure,” Reuters reported, citing the FT.

Reuters said it could not immediately verify the report, and BT, the UK government and Bharti did not immediately respond to requests for comment.

Mittal’s Bharti Enterprises currently owns 24.95% of BT.

Reuters had reported earlier that Bharti was considering raising its stake to just below the threshold that would trigger a mandatory takeover offer.

A Bharti spokesperson had said the company was pleased with its current holding and had no present plans to increase it.

Mittal, founder and chairman of Bharti Enterprises, and Gopal Vittal, vice chairman and managing director of Bharti Airtel, joined the BT board in September as non-independent non-executive directors.

The reported UK stance underlines the growing scrutiny of foreign ownership in telecom infrastructure, where national security, broadband access and strategic control increasingly sit in the same regulatory basket.