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Singtel's Bharti Airtel to buy 4.7% stake in Indus Towers in 'value accretive' deal

Felicia Tan
Felicia Tan2/25/2022 07:50 PM GMT+08  • 1 min read
Singtel's Bharti Airtel to buy 4.7% stake in Indus Towers in 'value accretive' deal
Bharti, along with its wholly-owned subsidiary Nettle Infrastructure Investments, currently own a 41.73% stake in Indus Towers.
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Singapore Telecommunications (Singtel) subsidiary Bharti Airtel has, on Feb 25, entered into an agreement with Vodafone to acquire a 4.7% stake in Indus Towers.

According to the Indian telco, the amount paid shall be inducted by Vodafone as fresh equity in Vodafone Idea Limited and simultaneously remitted to Indus Towers to clear Vodafone Idea’s outstanding dues.

The acquisition is said to be at an “attractive price representing a significant discount typically available for such large block transactions”. The price was not included in the filing on the Singapore Exchange (SGX) on Feb 25.

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