Bharti Airtel buys Vodafone’s 4.7% stake

Bharti Airtel said on Tuesday it has acquired 4.7 per cent stake in Indus Towers from Euro Pacific Securities Ltd, an affiliate of Vodafone Group.

Further to our intimations dated February 25, 2022, and March 25, 2022, we wish to submit that the Company, along with its wholly-owned subsidiary, Nettle Infrastructure Investments Limited, has acquired 127,105,179 equity shares (4.7 per cent) of Indus Towers Limited @ Rs 187.88 per share from Euro Pacific Securities Ltd, an affiliate of Vodafone Group Plc, Bharti Airtel said in a regulatory filing to the stock exchanges.

Bharti Airtel is estimated to have paid around Rs 2,388 crore for the deal. With 184,748 towers and 335,106 co-locations Indus Towers is one of the largest tower companies in the world.

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