Telecom major Bharti has acquired a 4.7 per cent stake in Indus Towers from U.K.’s Vodafone Group for around Rs 2,388 crore. “The company, along with its wholly-owned subsidiary, Nettle Infrastructure Investments Ltd, has acquired 127,105,179 equity shares (approximately 4.7 per cent) of Indus Towers Limited at ₹ 187.88 per share from Euro Pacific Securities Ltd, an affiliate of Vodafone Group Plc,” Airtel stated.
Last month, Airtel had signed an agreement to buy Vodafone’s stake in Indus Towers on the principal condition that proceeds will be used for investment in Vodafone Idea (VIL) and clearing its outstanding dues towards the mobile tower company.
