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Bharti Airtel arm picks up 4.9% stake more in Bharti Infratel
TIWN
Bharti Airtel arm picks up 4.9% stake more in Bharti Infratel
PHOTO : TIWN

New Delhi, Dec 5 (TIWN) Bharti Airtel has announced that its wholly-owned subsidiary Nettle Infrastructure Investments Ltd has bought additional stake of 4.94 per cent in Bharti Infratel for Rs 2,882.32 crore through block deals.

Airtel and ‘Nettle’ hold equity stake of 23.04% and 13.69% respectively in Bharti lnfratel Limited. The stake holding 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 0.99% or 4.75 points to ₹484.20 at closing.

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