On June 19, Bharti Airtel announced the acquisition of a 1 percent equity stake in Indus Towers. This came shortly after reports emerged that the UK’s Vodafone Group had divested up to 20 percent of its shareholding in the towers company.
Bharti Airtel disclosed that it purchased 2.695 crore shares of Indus Towers through on-market transactions. The telecom company, led by Sunil Mittal, had received board approval to acquire up to 2.7 crore shares.
Prior to this transaction, Bharti Airtel held a 47.95 percent equity stake in Indus Towers. Earlier the same day, Vodafone Group reportedly sold 53.3 crore shares in Indus Towers for Rs 17,065 crore.
