Airtel completes tower arm stake sale to Nettle Infra

0
23

NEW DELHI: Bharti AirtelBSE 1.57 % completed sale of 11.32 per cent stake in its mobile tower arm Bharti Infratel to its wholly-owned subsidiary Nettle Infrastructure for Rs 6,806 crore, the telecom operator said today.

“The company has today completed an inter-se transfer of 11.32 per cent stake (2,09,416,643 shares) in Bharti Infratel to Nettle Infrastructure Investments Ltd, a wholly owned subsidiary of the company,” Bharti AirtelBSE 1.57 % said in a BSE filing.

The consideration received from stake sale is Rs 6,806 crore.

Post the inter-se transfer, Bharti Airtel will hold 50.33 per cent while Nettle will hold 11.32 per cent in Bharti Infratel. The remaining 38.35 per cent will be held by public and other shareholders.

Last week, Bharti Infratel had said Nettle Infrastructure Investment will acquire 21.63 per cent in the company from parent Bharti Airtel.

The stock of Bharti Airtel was trading 0.84 per cent higher at Rs 343.50 on the BSE.