BT Group Appoints Two Directors Linked to Bharti Stake
(06:01 GMT) *BT Group PLC: Sunil Bharti Mittal to Join Board (06:01 GMT) *BT Group: Bharti Mittal is Founder, Chairman of Bharti Enterprises (06:01 GMT) *BT Group: Gopal Vittal to Join Board (06:02 GMT) *BT Group Names Mittal, Vittal Nonexecutive Directors (06:22 GMT) BT Group Appoints Two Directors Linked to Bharti Stake
By Elena Vardon
BT Group said that Sunil Bharti Mittal and Gopal Vittal of Indian conglomerate Bharti, its largest shareholder, will join its board as non-independent, nonexecutive directors.
The U.K. telecommunications company said Monday that the appointments--which are effective immediately--are part of a relationship agreement under which Bharti can nominate two people to BT's board as representative directors.
Bharti Global--the international investment arm of Bharti Enterprises--owns a 24.5% stake in the group, having acquired a 9.99% holding from Patrick Drahi's Altice in August last year and the remaining 14.51% in November.
Bharti Mittal is the founder and chair of Bharti Enterprises, while Vittal is vice chair and managing director of Bharti Airtel, the flagship telecommunications company of the conglomerate.
Write to Elena Vardon at elena.vardon@wsj.com