0935 GMT - Altice UK has clearly judged now is an opportune moment to acquire further shares in BT Group at an attractive price, with the latter's stock down several points since its earnings last week, Interactive Investor says. BT's results highlighted pressures with falling free cash flow and plans to slash 55,000 jobs, and while Altice's stake-building provides a vote of confidence in the company there are questions about what changes owner Patrick Drahi may want to implement, Interactive head of investment Victoria Scholar says in a market comment. "Perhaps this could pave the way for more aggressive cost cuts at BT. Shares in [the company] have fallen by more than 20% over the past twelve months but have been staging a recovery in 2023," Scholar says. BT shares are up 0.5% at 148.65 pence. (joseph.hoppe@wsj.com)
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(END) Dow Jones Newswires
05-23-23 0626ET
