Bharti Airtel’s board of directors has approved the acquisition of 102.04 million shares -- representing 20% of the entire stake -- in Bharti Telemedia from Lion Meadow Investment, a Warburg Pincus affiliate.
The acquisition will see Bharti Airtel issuing up to 36.5 million shares to Lion Meadow on a preferential basis as part of the consideration against the acquisition of the shares in Telemedia.
The remaining consideration of 9.38 billion rupees ($170.9 million) will be paid in cash, bringing the total transaction consideration to 31.26 billion rupees.
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