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Airtel to secure Vodafone’s 4.7% stake in Indus Towers for Rs 2,388 crore

Reported By: | Edited By: DNA Web Team |Supply: PTI |As much as the moment: Mar 25, 2022, 10: 22 PM IST

Telecom company Bharti Airtel will glean a 4.7 per cent stake in Indus Towers from Vodafone Team for roughly Rs 2,388 crore, essentially based on an organization submitting.

The transaction shall be completed at a label of Rs 187.88 per piece.

“…Pursuant to the above-referred settlement dated February 25, 2022 entered inter alia into between optimistic affiliates of Vodafone Team Plc (including Euro Pacific Securities), the company and Enrage, the transaction will seemingly be completed at Rs 187.88 per piece basis the agreed label formulation within the settlement, aggregating to Rs 23,880.62 million,” Airtel said in a regulatory submitting.

This might be upon fulfilment of all conditions precedents as agreed by the parties below the settlement, it added.

Airtel said settlement pertained to acquisition of about 4.7 per cent equity in Indus Towers by the company and/or Enrage Infrastructure Investments, a wholly-owned subsidiary, from Vodafone Team affiliate, Euro Pacific Securities.

On February 25, Bharti Airtel had said it has signed an settlement to secure Vodafone’s 4.7 per cent stake in Indus Towers on the location that the proceeds shall be mature for investment in Vodafone Idea and clearing its dues against the cell tower company.

Indus Towers, previously Bharti Infratel, affords passive telecom infrastructure. It deploys, owns and manages telecom towers and dialog structures for diverse cell operators.

The corporate’s portfolio of over 1,84,748 telecom towers makes it one amongst the ideal tower infrastructure companies within the nation with presence in all 22 telecom circles.

Indus Towers caters to all wi-fi telecommunication provider companies in India.

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Kunal Guha

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