Carlos Slim’s BT stake may just be a prelude

Koninklijke KPN NV

13/06/2024 11:57

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Pierre Briancon
       LONDON, June 13 (Reuters Breakingviews) - The Mexican
billionaire has taken 3% of the $17 bln UK telco. Nationalism,
and Slim’s failed 2012 tilt at Dutch peer KPN, imply he won’t
launch a full bid. But BT investors Patrick Drahi and Deutsche
Telekom may sell their shares if he gets even keener on the
group’s turnaround.
        
    Full view will be published shortly.
    Follow @pierrebri on X
    
    CONTEXT NEWS
    Mexican magnate Carlos Slim has taken a 3.16% stake in BT,
Britain's biggest broadband and mobile operator, according to a
stock market filing on June 12.
    The stake bought by Slim, whose family controls
telecommunications giant América Móvil, has a market value of
about 408 million pounds ($522 million), based on BT's closing
share price on June 12.
    BT shares were up 3% in London to 133 pence as of 1052 GMT.

 (Editing by George Hay and Streisand Neto)
 ((For previous columns by the author, Reuters customers can
click on  BRIANCON/ 
pierre.briancon@thomsonreuters.com))