Billionaire Carlos Slim extends BT stake in £150m deal

September 04, 2024 10:51 AM

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Mexican tycoon Carlos Slim has raised his BT stake to 4.3% for around £150 million.

In June, it was revealed that the billionaire has taken a 3.2% in the UK-based firm for around £400 million.

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Slim’s investment, through his family business Inbursa comes just weeks after Bharti Global became BT’s biggest shareholder after buying a 25% stake worth US$4 billion.

Slim built his fortune through his ownership of mexico’s state telephone company. His group now controls América Móvil and previously acquired stakes in European telecoms groups Telekom Austria and KPN.

Following Slim’s initial 4% stake, BT shares rose, and the move was hailed by analysts as validation for CEO Allison Kirkby’s strategy to reduce costs as part of a broader readjustment.

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