Bharti Airtel has reportedly purchased an additional 4.9 per cent stake in Bharti Infratel via open market block deals. The telco bought the aforementioned stake in the company for around Rs 31.5 billion- Rs 33 billion.
Prior to this purchase, Bharti Airtel held 36.7 per cent share in Bharti Infratel.
As per industry sources, the purchase is just about the amount permissible under the Creeping Acquisition norms which cap promoter purchases at 5 per cent of equity in a year.
