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 ₹2,882.32 crore via block deals.
Airtel and ‘Nettle’ hold equity stake of 23.04% and 13.69% respectively in Bharti lnfratel Limited. The stakeholding after the acquisition has increased to 18.62% in lnfratel.
With this acquisition by Nettle, the aggregate shareholding of the Company and Nettle stands increased to 41.66% in lnfratel.
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 Airtel BSE stock on Wednesday was up 4.4% or 9.50 points to ₹225.50 at day’s closing.
Recently, Bharti Infratel has recently merged with Indus Towers, making it among the largest telecom tower companies in the world.
