Airtel and Vi sell entire stake in Firefly Networks to iBUS for Rs 90 million
Bharti Airtel and Vodafone Idea Limited (Vi) have exited their Wi-Fi joint venture, Firefly Networks, by selling their respective stakes to iBUS Network and Infrastructure Private Limited. Airtel will receive Rs 45 million from this transaction. Similarly, Vi has also entered into a share purchase agreement with iBUS for the sale of its entire 50 per cent shareholding in Firefly for the same amount of Rs 45 million. The agreement was signed on January 6, 2025, and both companies anticipate that the deal will be finalised within 30 days from the signing date. Following the transfer of its stake, Firefly will no longer be a joint venture.
Vi board approves raising Rs 19.1 billion from its promoters
The board of Vi has approved raising Rs 19.1 billion from its promoters, Omega Telecom Holdings Private Limited and Usha Martin Telematics Limited, through a preferential allotment. The company has issued 1.7 billion equity shares with a face value of Rs 10 each at an issue price of Rs 11.28 per equity share, which includes a premium of Rs 1.28 per equity share to the promoters. Currently, Omega Telecom holds 0.4 per cent of Vi, while Usha Martin possesses 0.13 per cent.
Airtel prepays Rs 36.26 billion spectrum dues to DoT
Airtel has prepaid Rs 36.26 billion to the Department of Telecommunications (DoT), clearing all its liabilities for the spectrum it had acquired in 2016. This payment is part of Airtel’s efforts to clear its spectrum dues with high interest costs. With this payment, Airtel has now prepaid all its spectrum liabilities, with interest costs higher than 8.65 per cent. As per the telco, this is the second prepayment the company has made in financial year 2024-25. It has now prepaid a total of Rs 283.2 billion of spectrum liabilities in calendar year of 2024.
Vi clears Rs 19.1 billio old dues to Indus Towers
Vi has cleared Rs 19.1 billion of its old dues to Indus Towers using the funds raised through the recent issuance of fresh equity on a preferential basis to Vodafone Group Plc. Of the proceeds, Rs 8.9 billion ($105 million) was used to repay outstanding borrowings to Vi’s existing lenders, secured against the Vodafone Group’s Indian assets, and to cover transaction fees. The remaining of Rs 19.1 billion ($225 million) was used to acquire 1.7 billion equity shares in Vi, raising the Vodafone Group’s stake in Vi to 24.39 per cent from 22.56 per cent. The acquiring Vodafone promoter entities in Vi are Omega Telecom Holdings Private Limited and Usha Martin Telematics Limited.
Telkom receives ICASA approval to sell Swiftnet towers to Actis (South Africa)
Telkom South Africa has announced the successful approval of its $355 million sale of the Swiftnet tower business to Actis. The final green signal was given by by the Independent Communications Authority of South Africa (ICASA), enabling the consortium led by Actis, along with Royal Bafokeng Holdings, to take control of Swiftnet’s licences covering approximately 4,000 sites. The deal was initially struck in March 2024, with Telkom shareholders unanimously approving the transaction in May 2024. Telkom confirmed that the transaction will be completed once all remaining administrative conditions
are fulfilled.
ICASA approves transfer of Cell C licences to Blue Label Telecoms
South Africa-based ICASA has approved the transfer of Cell C’s spectrum and network licences to Blue Label Telecoms, clearing the way for the technology company to take control of the mobile operator. Only the approval of the Competition Tribunal is pending for the transaction to be finalised. Despite the transfer of control to Blue Label subsidiary The Prepaid Company, Cell C will retain its licences and continue to provide licensed services. Further, the spectrum assets will remain on Cell C’s books.
Zain Bahrain transfers fibre backhaul assets to BNET (Bahrain)
Bahrain Network (BNET) has announced the completion of the transfer of Zain Bahrain’s fixed fibre backhaul network assets to its wholesale fibre network. The agreement was formalised on December 12, 2024. To support the transfer of fibre and backhaul assets, BNET introduced the “Network Right of Use” service, followed by the launch of the “Unmanaged Mobile Backhaul Service”. These initiatives are aimed at supporting mobile network operations and ensuring fair access to infrastructure. Zain Bahrain closely collaborated with BNET over the past year to successfully complete the transfer process.
Angolan government to privatise shares in Unitel (Angola)
The Angolan government has announced plans to sell its shares in Unitel as part of a broader economic privatisation initiative. The sale is expected to take place in the coming months, with a portion of the shares to be sold through the stock exchange. Unitel is among 200 state-owned companies and assets identified for privatisation under Angola’s ongoing programme. The move aims to attract private investment and enhance the efficiency and competitiveness of the telecommunications sector in Angola.
