SME Times News Bureau | 02 Dec, 2020
Bharti Airtel has announced that its wholly-owned subsidiary Nettle
Infrastructure Investments Ltd has bought additional stake of 4.94 per
cent in Bharti Infratel for Rs 2,882.32 crore through block deals.
Post the transaction, Nettle's stake in Bharti Infratel has increased to 18.62 per cent.
"With
this acquisition by Nettle, the aggregate shareholding of the company
(Bharti Airtel) and Nettle stands increased to 41.66 per cent in
lnfratel," Bharti Airtel said in a regulatory filing.
It added
that since the acquisition has been undertaken on the stock exchange,
the same does not fall within the purview of 'related party
transactions'.
Bharti Infratel recently merged with Indus Towers.
