Airtel acquires extra 1 per cent stake in Indus Towers in all-cash deal

Bharti Airtel has acquired another 1 per cent stake in Indus Towers Limited for an undisclosed sum via an all-cash block deal.

As per the NSE filing, the telco has boosted its stake in Indus Tower to 48.95 per cent, inching closer to having a majority ownership.

Furthermore, Airtel’s acquisition of additional shares in Indus come even as Vodafone Group Plc plans to sell nearly 18 per cent ownership out of its 21.05 per cent stake in Indus Towers today via block deals.