Warburg Pincus sells 0.32 per cent stake in Airtel for Rs 16.49 billion (India)
Warburg Pincus has divested its 0.32 per cent stake in Bharti Airtel for Rs 16.49 billion through an open market transaction. According to block deal data on the Bombay Stock Exchange, Lion Meadow Investment Limited, an affiliate of Warburg Pincus, has sold 19,000,000 shares of Airtel, amounting to a 0.32 per cent stake in the company. The shares were sold at an average price of Rs 868 per share, taking the aggregate transaction value to Rs 16.49 billion. They were purchased in 11 tranches by affiliates of the US-based Capital Group.
Jio to secure $1.6 billion loan
Reliance Jio is in discussions to secure a loan of approximately $1.6 billion to fund equipment purchases from Nokia. Additionally, the operator is in talks with global banks to raise around $1-$1.5 billion through an offshore syndicated loan to buy 5G network gear from Ericsson. Banks involved in the discussions include Citigroup Incorporated, HSBC Holdings Public Limited Company and JPMorgan Chase & Company.
Vi proposes equity infusion of Rs 140 billion
Vodafone Idea Limited (Vi) has proposed an equity infusion of Rs 140 billion as part of its business revival plan. The plan includes contributions from the company’s promoters, the Aditya Birla Group and Vodafone Group Public Limited Company. Since the introduction of the government’s telecom revival package in September 2021, promoters have invested Rs 50 billion, and will invest another Rs 20 billion as fresh equity. Further, promoters will collaborate with the company to raise an additional Rs 70 billion from external investors, either through direct equity or convertible structures.
Airtel to acquire 12.07 per cent stake in Egan Solar Power
Bharti Airtel will acquire 12.07 per cent (283,400 equity shares) of Egan Solar Private Limited. The acquisition aligns with the objectives of the regulations governing captive power plants, as specified under the Electricity Act of 2004 and the Indian Electricity Rules of 2005, which allow Airtel to procure cost-effective renewable energy resources.
Cisco to acquire Accedian to expand its network assurance portfolio
Cisco has announced plans to acquire Accedian to expand its network assurance portfolio. Through this acquisition, the company aims to address the increasing need for stringent performance requirements and offer real-time actionable insights of communication service providers and webscalers. Additionally, Cisco has announced its intention to acquire SamKnows, a London-based broadband network monitoring firm. The acquisition will improve Cisco ThousandEyes’ industry-leading monitoring of global internet health.
Tanla Platforms acquires ValueFirst from Twilio for Rs 3.46 billion
Tanla Platforms Limited has signed a definitive share purchase agreement to acquire 100 per cent of ValueFirst Digital Media Private Limited from US-based Twilio for an all-cash consideration of Rs 3.46 billion. This acquisition is subject to upward closing adjustments in the $2.5 million-$3.5 million range. Tanla has also signed a binding term sheet to acquire 100 per cent of ValueFirst Middle East FZC for a cumulative consideration of Rs 200 million through a combination of primary investments and secondary purchase from existing shareholders.
World Bank Group, IFC and MIGA make equity investments in Safaricom Ethiopia (Ethiopia)
The World Bank Group, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) have announced plans to make an equity investment in Safaricom Ethiopia, alongside providing loans to the operator. Under this deal, the World Bank will provide equity, debt and insurance facilities to support the construction and operation of Safaricom Ethiopia’s 4G and 5G mobile networks. Meanwhile, IFC will make a $157.4 million equity investment in Safaricom Ethiopia’s parent company, Global Partnership for Ethiopia, and will also provide a $100 million “A-loan” to the operator. Following the transaction, IFC will hold a minority position in Safaricom Ethiopia. Additionally, MIGA will provide a 10-year guarantee of $1 billion to cover the equity investments made by the current shareholders of Safaricom Ethiopia, namely, Vodafone Group, Vodacom, Safaricom and British International Investment.
The Singtel Group signs $1.1 billion rolling credit facility with 11 lenders (Singapore)
The Singtel Group has secured an SGD 1.5 billion credit facility with 11 banks, including ANZ Group Holdings, Bank of America and the Industrial and Commercial Bank of China. The company has stated that the funds will be utilised for general corporate purposes.
Globe Telecom raises $1.73 billion from tower sales (Philippines)
Globe Telecom’s mobile tower sale and leaseback programme has generated total proceeds of PHP 96.32 billion through the sale and leaseback of its telecom towers. The operator confirmed that the sale of non-strategic infrastructure has now topped over 7,500 assets, bringing the project closer to the upper threshold of its divestment plan. Furthermore, Globe has successfully transferred 44 per cent or 3,120 of the total 7,059 assets acquired by tower companies, generating approximately PHP 40.5 billion in proceeds.