Live
- Beyond the Data - Shreyas Mahimkar in pursuit of Innovation, passionate about learning
- Ravi Kiran Pagidi: Innovating in Cloud Data Solutions and Real-Time Processing
- 'Vere Level Office' Episode 4 Review: Fun, Emotions, and a Hint of Drama
- Durvas Jayaraman: Redefining Enterprise Software Architecture
- Breaking Boundaries in Microbiology and Business: Dr Saloni Sharma
- Two drown as Indian Navy speedboat rams into passenger ferry in Arabian Sea off Gateway of India
- RG Kar tragedy trial: Recording of statements by 50 witnesses completed
- New expressway links Lhasa with birthplace of Tibetan civilization
- 13 Dead as Ferry Capsizes Near Gateway of India; Over 100 Rescued
- PM Modi to Visit Kuwait for Two Days from December 21, First Indian PM Visit in 43 Years
Bharti Airtel to cut stake in Infratel
Mumbai: Telecom major Bharti Airtel will slash its stake in Bharti Infratel to 18.3 per cent by selling around 32 per cent stake to Nettle...
Mumbai: Telecom major Bharti Airtel will slash its stake in Bharti Infratel to 18.3 per cent by selling around 32 per cent stake to Nettle Infrastructure Investments, a regulatory filing by Infratel said on Tuesday.
Nettle Infrastructure, a wholly-owned subsidiary of Bharti Airtel, has 3.2 per cent stake in Infratel. After the transaction, its stake would rise to 35.2 per cent, it said. Bharti Airtel currently has 50.3 per cent stake in the telecom tower company.
According to Infratel, the acquisition would take place "on or after March 18". The price of shares for the deal would be "at or around the market price prevailing on the date of acquisition".
Market analysts said this transfer of shares would eventually lead to sale of the stake to a third party and help Bharti Airtel raise money. Consequent to the announcement, shares of Bharti Airtel surged over 4 per cent during the day.
