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A Patrick Drahi takeover of BT would be an unhelpful distraction
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The government says it is “monitoring the situation carefully” and “will not hesitate to act if required to protect our critical national telecoms infrastructure”. Does this mean Patrick Drahi of Altice, now with 18% of BT in his back pocket, can forget any idea of buying the company outright?
Let’s hope so. For the first time in years, BT, if it runs its business well, looks set up to satisfy the demands of all its main constituencies. Customers and the government get £15bn of fibre investment over the next five years. The shareholders, after a (too) long standoff with regulator Ofcom, have the “fair bet” terms, covering future broadband pricing, that successive BT managements have argued are critical to getting the fibre in ducts.
Better
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