Patrick Drahi’s telecoms funding group has lifted its stake in BT to nearly 25 per cent simply days after the UK group introduced its most radical cost-cutting drive in many years.

Altice UK, the car managed by billionaire Drahi, stated on Tuesday that it had lifted its stake within the former UK monopoly to 24.5 per cent from 18 per cent.

In a brief assertion, Altice UK reiterated that it had no plans to make a proposal for BT, whose share value dipped following a blended set of outcomes final week however stays up greater than 30 per cent this yr.

Drahi’s funding car first purchased a 12 per cent stake in BT in June 2021, growing it to 18 per cent later that yr.

The UK authorities “referred to as in” the funding to look at its safety implications underneath its new nationwide safety legislation final yr, however determined to take no additional motion in August.