Bharti Airtel to acquire 4.7% stake of Vodafone in Indus Towers
- Telecom operator Bharti Airtel Ltd has entered into an agreement with Vodafone Group Plc to buy 4.7% equity interest in Indus Towers Ltd., India’s largest mobile tower installation company.
- The partnership is in line with Vodafone’s plan to sell its entire 28.1% stake in Indus Towers.
- The principal condition of this deal is that the proceeds of the deal shall be inducted by Vodafone as fresh equity in Vodafone Idea Limited (VIL) and simultaneously remitted to Indus Towers to clear VIL’s outstanding dues.
- The deal value has not been disclosed by Airtel.
- Indus Towers Limited is promoted under a joint venture between Bharti Infratel (42%) and Vodafone Idea Limited.
Points to Remember:
- What percent of stake has been bought by Airtel from Vodafone in Indus Towers?
- Bharti Airtel has recently bought 4.7% stake of Vodafone in which company?
- Indus Towers parent company – Bharti Airtel
Source: Business Standard