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Bharti Airtel to sell 21.63% stake in Bharti Infratel to Nettle Infrastructure

22 Mar 2017 Evaluate

Bharti Airtel is all set to transfer a 21.63% stake in mobile tower arm Bharti Infratel to wholly-owned subsidiary Nettle Infrastructure Investments. The deal will see around 400 million shares, reducing its own stake down to 50.33%, after 26 March 2017.

The remaining 28.04% share in the tower company belongs to public shareholders, with Airtel opting to hold on to the controlling stake in the company. Bharti Infratel’s tower base includes more than 90,000 if counting its stake in Indus Towers.

Peers
Company Name CMP
Bharti Airtel 1817.00
Vodafone Idea 14.26
Indus Towers 381.50
Tata Communications 1686.45
Railtel Corp. India 264.70
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