Bharti Airtel’s wholly-owned subsidiary -- Bharti Airtel Services has entered into an agreement for acquisition of 49,45,239 equity shares representing 97.1% stake in another Bharti Group company, Beetel Teletech, which also has 49% stake in Joint Venture having two manufacturing facilities which produce telecom and networking products including those qualifying for Production Linked Incentive (PLI) Scheme. Cost of acquisition is Rs 669 crore.
This acquisition is a part of company’s strategy to enable indigenization initiatives within its own ecosystem of telecom products in line with the government’s policy of ‘Make In India’; and add distribution and service capabilities (including system integration) largely for company’s enterprise business.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
