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BT on war footing as it tries to guess biggest investor’s intentions
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In the days after Philip Jansen was named as the next chief executive of BT, taking on the Herculean task of reviving the fortunes of the then beleaguered telecoms group, enthusiastic investors gave its shares a rare boost that sent its market value to more than £26bn.
Just over three years later, Jansen – who, despite making good on his vision – helms a business investors now value at about £16bn and faces the prospect of a showdown with his new largest shareholder over what the future should look like.
Patrick Drahi, the French-Israeli telecoms billionaire and founder of Altice, is known an aggressive investor with a penchant for cost cutting at businesses he controls. He is free to make his next move from 10 December, with the expiry of a
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