Bharti Infratel plans to acquire stake in Viom Networks

Bharti Infratel is reportedly planning to acquire stake in the telecom infrastructure company, Viom Networks. The stake acquisition will help the subsidiary of Bharti Airtel to expand its portfolio in the country.

Viom Networks has been planning to sell stake to raise funds for network expansion. Its current stakeholders, Tata TeleServices Limited (TTSL) and Srei Group want to dilute their stakes in the company.

TTSL and Srei Group currently hold a 54 per cent and 18.5 per cent stake in Viom Networks respectively. TTSL is expected to reduce its ownership to about 30 per cent. Other stake holders of the company include IDFC Private Equity, SBI Macquarie, Oman Investment Fund and GIC of Singapore, which together own 27.5 per cent stake.