Bharti Airtel Boosts Indus Towers Stake with Acquisition:
In a regulatory filing on Saturday, Bharti Airtel announced that it has increased its direct stake in Indus Towers by acquiring 23.01% of shares held by its wholly-owned subsidiary, Nettle Infrastructure. The acquisition now puts Bharti Airtel’s total stake in Indus Towers at 47.95%.
Prior to the acquisition, Bharti Airtel directly held 24.94% of the stake in Indus Towers and 23.01% through its subsidiary, Nettle Infrastructure. The latest move allows Bharti Airtel to directly own a majority 47.95% stake in the mobile tower company.
The acquisition is in line with the “composite scheme of amalgamation approved by the Hon’ble National Company Law Tribunal, Chandigarh bench,” and became effective on February 1st, 2023.
This move by Bharti Airtel is a significant step towards strengthening its presence in the Indian telecom market and underscores its commitment to delivering top-notch mobile tower services to its customers.
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