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General

Saudi Public Investment Fund builds stake in UK's BT Group - report

Monday 22 June 2020 | 10:14 CET | News
Sources said that the PIF, worth USD 325 billion, has been buying up shares on the open market in recent weeks. The investment comes with BT close to its lowest ebb in a decade. A combination of badly dented market confidence in its prospects and the broader coronavirus slump have left it with a stock market valuation of only GBP 11.7 billion, less than it paid in 2016 to acquire its mobile arm EE, The Telegraph report said. 

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Categories: General
Companies: BT
Countries: Saudi Arabia / United Kingdom
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