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Nettle Infrastructure Investments acquires additional 4.94% stake in Bharti lnfratel

Following the acquisition, the aggregate holding of Bharti Airtel and Nettle Infrastructure Investments now has increased to 41.66 percent in Bharti Infratel

December 02, 2020 / 07:56 PM IST
 
 
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Bharti Airtel Ltd on December 2 said its wholly owned subsidiary Nettle Infrastructure Investments Ltd has acquired an additional equity stake of 4.94 percent in Bharti lnfratel Ltd, increasing its total stake to 18.62 percent.

The acquisition has been done at an aggregate consideration of Rs 2,882.32 crore, the company said in its exchange filing.

Telecom tariff hike needed as pricing is 'unsustainable': Bharti Airtel Chairman Sunil Mittal

With this acquisition, the aggregate shareholding of Bharti Airtel and Nettle stands at 41.66 percent in Bharti lnfratel.

Bharti Airtel holds 23.04 percent in Bharti Infratel.

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Since the acquisition has been undertaken on the stock exchange, the same does not fall within the purview of 'related party transaction', it said.
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