Airtel Transfers Another 16.7% Stake In Infratel To Nettle Infra
Airtel transfers the stake of its telecom arm to Nettle in two tranches.
Telecom operator Bharti Airtel Ltd. has transferred additional 16.76 percent stake, worth Rs 10,000 crore, that it holds in telecom tower arm Bharti Infratel to Nettle Infrastructure Investments Ltd. in two tranches, according to a regulatory filing.
The Sunil Bharti Mittal-led telecom services firm had earlier said it is parking its stake in Nettle Infrastructure, a wholly owned subsidiary of the company, as it plans to monetise stake in Bharti Infratel.
Airtel holds 53.51 percent stake in Bharti Infratel.
Bharti Airtel transferred 8.65 percent stake in Bharti Infratel on Monday and another 8.11 percent on Tuesday to Nettle Infrastructure. The value of these shares at the BSE closing rate of Rs 326.9 apiece amounts to over Rs 10,133 crore.
With the fresh transaction, Bharti Airtel’s stake parked with Nettle Infrastructure has now increased to 19.94 percent from 3.18 percent earlier.