Patrick Drahi Withdraws Investment in UK Telecom Giant BT
Risky Margin Loan Ends Partnership
After suffering significant losses, Patrick Drahi is withdrawing his investment in BT Group Plc, a major UK telecom company. Drahi's initial stake in BT had a value of approximately £1 billion, but it has since plummeted by almost £1 billion.
Altice's Risky Move
Drahi's investment vehicle, Altice Group, took a risky step by securing a margin loan of over £1 billion against its stake in BT. This loan essentially puts the stake up as collateral, potentially putting Altice at risk if the value of the stake falls further.
Speculation and Uncertainty
The move has raised speculation about the future of BT and the telecom industry as a whole. Drahi's withdrawal raises questions about the viability of Altice's strategy, especially in light of the recent challenges faced by the telecom sector.
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