The Competition Commission of India (CCI) has approved Airtel’s plan to raise its stake in Indus Towers, following a share buyback by the telecom infrastructure company. Indus Towers specialises in providing passive telecom infrastructure, including the deployment, ownership, and management of such facilities for various mobile operators.
In August, Airtel announced its intention to exceed a 50 per cent ownership stake in Indus Towers after the completion of a Rs 26.40 billion share buyback scheme. This buyback involved over 56.7 million shares priced at Rs 465 each, accounting for approximately 2.10 per cent of the company’s total equity shares. Currently, Bharti Airtel holds a 50 per cent stake in Indus Towers, according to stock exchange data.
Additionally, CCI has also granted approval for Luxembourg-based CVC Capital Partners to acquire Aavas Financiers, a financial services company registered with the National Housing Bank. Aavas Financiers offers home loans, MSME business loans, and loans against property.
