Bharti Airtel along with its wholly-owned subsidiary, Nettle Infrastructure Investments Limited, has acquired 127,105,179 equity shares (about 4.7 per cent stake) of Indus Towers from Euro Pacific Securities, an affiliate of Vodafone Group. The shares were acquired at Rs 187.88 per share.
Earlier, Airtel had expressed its intention to acquire 4.7 per cent stake in Indus Towers from Vodafone Group for about Rs 23.88 billion. Also, on February 25, 2022 Bharti Airtel had informed that it has inked an agreement to buy Vodafone’s 4.7 per cent stake in Indus Towers on the condition that the proceeds will be used for investment in Vodafone Idea and clearing its dues towards the mobile tower company.
Indus Towers, formerly Bharti Infratel, provides passive telecom infrastructure. It owns, deploys and manages telecom towers and communication structures for various mobile phone service operators.
