Bharti Airtel Acquires 1% Additional Stake in Indus Towers

Airtel acquired 26.95 million shares of Indus Towers from the market. There is no regulatory approval required for Airtel to make this purchase. It will be interesting to see if Airtel increases its stake in Indus Towers to more than 50% in the future. 

Highlights

  • Bharti Airtel, India's second-largest telecom operator, has acquired an additional 1% stake in the telecom infra company Indus Towers.
  • Airtel is the largest stakeholder in Indus Towers.
  • Before this, Airtel had a 47.95% stake, and now, it has increased to 48.95%.

Follow Us

bharti airtel acquires 1 additional stake in

Bharti Airtel, India's second-largest telecom operator, has acquired an additional 1% stake in the telecom infra company Indus Towers. This happened as Vodafone UK offloaded an 18% stake in the tower company. Airtel is the largest stakeholder in Indus Towers. Before this, Airtel had a 47.95% stake, and now, it has increased to 48.95%.




In a release, Airtel said, "the ‘Special Committee of Directors for evaluation of stake in Subsidiaries and Joint Ventures’ has today i.e. on June 19, 2024, approved the acquisition of upto 27 million equity stake in Indus Towers Limited (‘Indus Towers’)."

Read More - Vodafone UK Sells 18% Stake in Indus Towers for Rs 15,300 Crore

To be precise, Airtel acquired 26.95 million shares of Indus Towers from the market. There is no regulatory approval required for Airtel to make this purchase. It will be interesting to see if Airtel increases its stake in Indus Towers to more than 50% in the future.

Vodafone UK used to be a majority stakeholder in the tower company, but today, its remaining stake is only 3.1%. Airtel will also benefit if Indus Towers is performing well. For Indus Towers, it is crucial that Vodafone Idea (Vi) clears the past dues. While Vi has been clearing the regular payments without any delays, there is a huge backlog of dues that needs to be cleared.

Read More - Bharti Airtel Launches New Rs 279 Prepaid Plan with 45 Days Validity

Indus Towers won't help Vi roll out new services such as 5G if it doesn't clear the previous payments. Bharti Airtel is the largest stakeholder in Indus Towers and would want Vi to pay the dues. Vi plans to roll out 5G during the winter of 2024. For that, the telco has raised plenty of money in the short-term and will require the help of Indus Towers as well as the network gear vendors such as Nokia and Ericsson.

Reported By

Editor in Chief

Tanay is someone with whom you can chill and talk about technology and life. A fitness enthusiast and cricketer, he loves to read and write.

Recent Comments

jayanthkillam :

Have you checked Rs.91 Plan on bsnl.

Is BSNL Rs 107 Plan the Best Value Short-Term Prepaid…

Samrat Gupta :

Well if you consider Jio's 2gb monthly plan then its more or less same. I was comparing the plans as…

Jio, Airtel, Vi Minimum Recharge to Keep Validity after Tariff…

TheAndroidFreak :

Let BSNL first focus on coverage in rest of India. Mumbai and Delhi have best coverage from Jio+Vi/Jio+Airtel on respective…

Is BSNL Rs 107 Plan the Best Value Short-Term Prepaid…

Faraz :

Can't find any of the 3 plan in MyJio.. Is it visible for only those who have 1.5 GB per…

Breaking: Jio Launches 5G Data Booster Plans, Starts at Rs…

Shivraj Roy :

There was big mtnl office in Andheri West Mumbai They demolished it a few months ago Idk what’s with that

BSNL will Handle MTNL Operations, but No Merger Yet: Report

Load More
Subscribe
Notify of
1 Comment
newest
oldest most voted
Inline Feedbacks
View all comments