Global telecommunications company Bharti Airtel has decided to acquire an additional 4.7 percent stake in Indus Towers from Vodafone Group, the company announced it on Friday.
“The said acquisition purchase would be at an attractive price representing a significant discount typically available for such large block transactions. In addition, Airtel is also protected with a capped price, which is lower than the price for the block of Indus shares sold by Vodafone on February 24. This shall be value accretive to Airtel and protect its existing significant shareholding in Indus Towers,” said Bharti Airtel
“With the likely introduction of 5G in the future, we believe a lot more infrastructure would be required in which Indus Towers, an undisputed leader, has a significant role to play and partake the potential growth in the business,” said Bharti Airtel
The company also clarified that the acquisition of shares would be at an “attractive price” representing a significant discount typically available for such large block transactions.
“In addition, Airtel is also protected with a capped price which is lower than the price for the block of Indus shares sold by Vodafone on February 24, 2022,” comapny said.
Bharti Airtel’s portfolio of over 184,748 telecom towers makes it one of the largest tower infrastructure providers in the country with a presence in all 22 telecom circles. It caters to all wireless telecommunication service providers in India.
