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Bharti Telecom to acquire upto 4.62% stake in Bharti Airtel

October 30, 2017

Bharti Telecom which is the promoter and holding company of Bharti Airtel is expected to acquire 4.62 per cent stake in the company.

In a filing in the National Stock Exchange, the promoter firm stated that it will acquire 184,710,183 equity shares at Rs 417.35 a piece. The share value decided is the weighted average price of Bharti Airtel’s stocks in the last 60 days. The date of acquisition is likely to be by November 3, 2017 or after that. Bharti Telecom added that the amount paid will not be higher than 25 per cent of the compounded price per share which in turn puts the deal value roughly between Rs 77 billion to Rs 96.23 billion.

The Mittal Group are promoters of both Bharti Telecom and Bharti Airtel. They own 51 per cent stake in Bharti Telecom and 30 per cent effective stake in Airtel. Post this deal, their share holding in Bharti Airtel is expected to increase but the largest share holder in the operator will continue to be Singapore Telecommunications (Singtel) with 36.27 per cent stake.

 
 

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