Bharti Telecom raises stake in Bharti Airtel to 40.33 per cent (India)

Bharti Telecom (BTL) has increased its ownership in Bharti Airtel to 40.33 per cent by acquiring an additional 1.2 per cent stake from Indian Continent Investment Limited (ICIL) through an off-market transaction. As a result of this deal, ICIL’s stake in Airtel has decreased from approximately 4.51 per cent to 3.31 per cent. With this, BTL remains the largest shareholder in Airtel, with the Mittal family and Singapore Telecommunications (Singtel) holding 50.56 per cent and 49.44 per cent stakes in BTL respectively.

CCI approves acquisition of stakes in STT GDC by KKR and Singtel

The Competition Commission of India (CCI) has approved the acquisition of shares in ST Telemedia Global Data Centres (STT GDC) by Ruby Asia Holdings II, an arm of KKR, and Singtel. This transaction involves Ruby Asia Holdings II Pte. Limited (a special purpose vehicle indirectly owned by investment funds advised by KKR and Co. Inc.) and Singtel Interactive Pte. Ltd (a subsidiary of the Asian telecommunications and technology group Singtel). In June 2024, STT GDC, KKR and Singtel jointly announced the signing of definitive agreements under which a KKR-led consortium comprising KKR and Singtel will invest SGD 1.75 billion ($ 1.3 billion) in STT GDC. However, the approval of the acquisition is subject to compliance with certain voluntary commitments submitted by the parties. Upon exercise of the warrants in full, the consortium will invest an additional SGD 1.24 billion ($920 million).

SAR to acquire Tikona Infinet for Rs 6.69 billion in cash and stock deal

SAR Televenture has announced its acquisition of Tikona Infinet for Rs 6.69 billion in a cash and stock deal. The deal will see SAR acquire a 91 per cent stake in Tikona. Tikona shareholders will receive SAR Televenture shares. Post-deal completion, the SAR group will become an integrated telecom services provider, offering internet service provider services, infrastructure provider Category 1 services, broadband and enterprise services.

Bharti Airtel receives CCI approval to raise stake in Indus Towers above 50 per cent

The CCI has approved Airtel’s plan to raise its stake in Indus Towers, following a share buyback by the telecom infrastructure company. This buyback involved over 56.7 million shares priced at Rs 465 each, accounting for approximately 2.1 per cent of the company’s total equity shares. In August 2024, Airtel announced its intention to go beyond a 50 per cent ownership stake in Indus Towers after the completion of a Rs 26.4 billion share
buyback scheme.

Singtel increases its effective stake in Bharti Airtel to 29.44 per cent

Singtel has increased its effective holding in Bharti Airtel to 29.44 per cent, while the Mittal family’s stake has decreased to 23.7 per cent. This change follows a recent move by BTL, the principal controlling entity of Airtel.

L&T to acquire a 21 per cent stake in E2E Networks Limited for Rs 14.07 billion

Larsen & Toubro (L&T) is set to acquire a 21 per cent stake in E2E Networks Limited for Rs 14.07 billion. This will expand the reach of L&T’s cloud and artificial intelligence (AI) services. L&T will make an investment of Rs 10.79 billion for a 15 per cent stake via preferential allotment and Rs 3.27 billion for an additional 6 per cent stake through secondary acquisition. The acquisition is expected to be completed by December 31, 2024.

Bharti Telecom accepts Rs 111.5 billion bids

Bharti Telecom, the holding company of Bharti Airtel, has accepted bids worth Rs 111.5 billion ($1.33 billion) in its biggest-ever bond issue, surpassing the State Bank of India’s issue in July 2024 (Rs 100 billion). The bond saw subscription from mutual funds, insurance companies, private credit funds and some foreign banks, with SBI Mutual Fund being the largest anchor investor.

Telecom Egypt and Vodafone sign $609 million 5G infrastructure deal (Egypt)

Telecom Egypt has entered into multi-year agreements worth approximately EGP 30 billion ($609.7 million) with Vodafone Egypt to provide infrastructure services supporting Vodafone’s 5G roll-out. The partnership includes extension of transmission services until 2031 and a four-year agreement for fibre connectivity to Vodafone’s mobile sites. Several additional agreements have been established for virtual fixed voice and internet services, allowing Vodafone Egypt to enhance its comprehensive portfolio of communication services in the
Egyptian market.

Equinix completes integration of MainOne to expand West African presence (Nigeria)

Equinix has finalised the post-acquisition integration of MainOne, a provider of internet connectivity in Nigeria, into its global operations. This strategic acquisition includes MainOne’s extensive infrastructure, such as submarine cable systems and advanced data centres, positioning Equinix as a key player in the West African digital ecosystem. The integration enhances regional connectivity and supports digital transformation across critical sectors such as finance, media and the government.