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Bharti Airtel Ltd.
BSE: 532454 | NSE: BHARTIARTL
Large Cap | Telecommunication - Service Provider
1997.25
31.65 (1.61%) Warburg Pincus to invest $350 million to acquire 20% stake in Bhart Airtel’s DTH arm
Date: 13-12-2017Warburg Pincus’s affiliate will acquire up to a 20% equity stake in Bharti Telemedia, the DTH arm of Bharti Airtel, for around $350 million. Of this, 15% stake will be sold by Bharti Airtel and the balance by another Bharti entity which holds 5% stake. Warburg Pincus is a global private equity firm focused on growth investing.
Bharti Telemedia is one of the largest Direct-To-Home (DTH) paid TV service providers in India and offers services under the Airtel TV brand. It had around 14 million subscribers and around $550 million in revenues during the 12-month period ended September 30, 2017.
Upon closing of the transaction, Bharti Airtel will own an 80% equity stake in Bharti Telemedia.