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Billionaire Patrick Drahi allowed to keep BT stake after security review
Drahi’s investment in BT prompted scrutiny by the government under new powers to intervene in takeovers of companies with interests in critical sectors of the UK economy, such as communications, energy, defence and transport.
Entrepreneur prompted government investigation in May after raising stake in UK telecoms company to 18%
The billionaire Patrick Drahi will not be forced to cut his stake in BT after the UK government ruled the investment did not pose any national security concerns.
Drahi, who moved to France as a teenager and holds Israeli, French and Portuguese citizenships, is BT’s biggest shareholder.
Drahi’s investment in BT prompted scrutiny by the government under new powers to intervene in takeovers of companies with interests in critical sectors of the UK economy, such as communications, energy, defence and transport.
https://www.theguardian.com/
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