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Bharti Airtel's arm buys an additional 4.9% stake in Infratel for Rs 2,882 crore

Bharti Airtels arm buys an additional 4.9% stake in Infratel for Rs 2,882 crore
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Bharti Airtel's arm buys an additional 4.9% stake in Infratel for Rs 2,882 crore

Highlights

Telecom major Bharti Airtel on Wednesday informed that its wholly-owned subsidiary Nettle Infrastructure Investments Limited has bought 4.94% additional stake in Bharti Infratel for Rs 2,882.32 crore via block deals.

Telecom major Bharti Airtel on Wednesday informed that its wholly-owned subsidiary Nettle Infrastructure Investments Limited has bought 4.94% additional stake in Bharti Infratel for Rs 2,882.32 crore via block deals.

Bharti Airtel in a regulatory filing said, "Nettle Infrastructure Investments Limited, a wholly-owned subsidiary of the Company, has acquired an additional equity stake of 4.94 per cent in Bharti Infratel Limited today i.e. on December 02, 2020."

Bharti Airtel Limited and Nettle Infrastructure Investments Limited ('Nettle') hold an equity stake of 23.04 per cent and 13.69 per cent respectively in Bharti Infratel Limited ('Infratel'). The stakeholding after the acquisition has increased to 18.62 per cent in Infratel.

With this acquisition by Nettle, the aggregate shareholding of Airtel and Nettle stands increased to 41.66 per cent in Infratel.

Since the acquisition has been undertaken on the stock exchange, the same does not fall within the purview of 'related party transactions', the telco said in a regulatory filing.

Bharti Infratel has recently merged with Indus Towers, making it among the largest telecom tower companies in the world.

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