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Bharti Airtel looking to divest stake in DTH arm to raise funds

March 14, 2018

Bharti Airtel is planning to sell a larger stake in Bharti Telemedia, its direct-to-home (DTH) arm in a bid to raise funds.

An indicator of such a sale is the board approval for the transfer of 19 per cent additional stake in Bharti Telemedia to Nettle Infrastructure Investments, its wholly-owned subsidiary. This will be in addition to a 25 per cent transfer in January 2018, taking the total stake transfer to 44 per cent.

Further, a part of the aforesaid 19 per cent stake will be utilised for the completion of stake sale of Telemedia to the Warburg Pincus Group.

This move comes a day after the Airtel board approved a roadmap to raise about Rs 165 billion through debt, including a fresh issue of $1 billion in overseas bonds, to aid in refinancing loans and to meet spectrum obligations.

Earlier in December 2017, Bharti Airtel sold a fifth of its DTH arm to an affiliate of Warburg Pincus, for around Rs 22.58 billion.

 
 

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