Bharti is buying the stake from BT’s largest shareholder, Altice UK. The BT stock has surged more than 10% this week to a market capitalisation of $18.55 billion following the stake purchase announcement. Depending on the valuation for the acquisition, the group will look to put in a mix of cash and debt for the rest of the deal, which could take some time, said the people cited, adding that a final decision on the additional debt amount will be taken then.
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