Bharti Airtel Expands Stake in Indus Towers: Implications for Telecom Infrastructure

Bharti Airtel announced its board approved acquiring an additional 5% stake in Indus Towers, increasing its holding from 51.03% as of September 30. The stake is valued over Rs 5,000 crore based on Indus Towers' market price. The acquisition is subject to market conditions and regulatory compliance.

In a significant move for the Indian telecom sector, Bharti Airtel's board sanctioned the acquisition of an extra 5% stake in its telecom infrastructure unit, Indus Towers, on Monday.

This acquisition would bolster Airtel's existing 51.03% stake in Indus Towers, representing a crucial enhancement in its strategic telecommunications assets. According to Monday's market valuation on the BSE, this stake is valued at over Rs 5,000 crore.

The transaction's fruition hinges on market conditions, regulatory compliance, and other key factors, as highlighted in Airtel's official filing. Notably, this decision follows Vodafone's recent exit from Indus Towers, having sold its 3% stake for Rs 2,800 crore last December.

(With inputs from agencies.)