REG - Altice UK S.a r.l. - Statement regarding BT Group plc

BTAnnouncement

23/05/2023 08:15

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RNS Number : 2705A  Altice UK S.a r.l.  23 May 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

 

THIS ANNOUNCEMENT IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE
ON TAKEOVERS AND MERGERS (THE "CODE").

 

FOR IMMEDIATE RELEASE

 

23 May 2023

 

 

Altice UK S.à r.l ("Altice UK")

Statement regarding BT Group plc ("BT" or "the Company")

 

Altice UK - a company established and wholly owned by Patrick Drahi -
announces today that it has acquired a further 650,000,000 shares in BT,
increasing its ownership to 2,435,476,188 shares, which represents
approximately 24.5% of BT's issued share capital (excluding treasury shares).

Altice UK has restated its position to the Board of BT that it does not intend
to make an Offer for BT and will be bound by that statement for the purposes
of Rule 2.8 of the UK's Takeover Code.

Rule 2.8 statement

Altice UK confirms that it does not intend to make an offer for BT. This is a
statement to which Rule 2.8 of the Takeover Code (the "Code") applies. Under
Note 2 on Rule 2.8 of the Code, Altice UK reserves the right to set the
restrictions in Rule 2.8 aside in any of the following circumstances:

a)         with the agreement or recommendation of the board of BT;

b)         if a third party announces a firm intention to make an
offer for BT;

c)         if a third party announces a possible offer for BT;

d)         if BT announces a Rule 9 waiver proposal (see Note 1 of the
Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the
Code); or

e)         if there has been a material change of circumstances (as
determined by the Takeover Panel)

 

Contact details

Teneo / AlticeUK@teneo.com (mailto:AlticeUK@teneo.com) / +44 (0) 20 7353 4200

Graeme Wilson

Giles Kernick

 

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