The leading telecom service provider Airtel’s board has approved the transfer of 19% equity share in its direct-to-home (DTH) subsidiary Bharti Telemedia to a subsidiary company Nettle Infrastructure Investments. Bharti Telemedia provides DTH service under Airtel Digital TV brand.
As per company sources, a part of the stake will be utilised for the completion of stake sale in Bharti Telemedia to Warburg Pincus Group. As a matter of fact, in December 2017, Airtel had agreed to sell 20% equity stake in Bharti Telemedia to Warburg Pincus for approximately $350 million.
Later in January, Airtel had decided to transfer 25% equity shares in Bharti Telemedia to its wholly owned subsidiary Nettle Infrastructure Investments. The company had also said that the stake transfer to Nettle does not include equity to be sold to private equity firm Warburg Pincus.
Bharti Airtel said in a filing to the BSE: “Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board in its meeting held on March 12, 2018, has approved the transfer of 19% equity shares of Bharti Telemedia Limited (‘Telemedia’), a subsidiary Company to Nettle Infrastructure Investments Limited, a wholly owned subsidiary company.”
Source: http://cablequest.org/index.php/news/dth-news/item/12375-airtel-board-approves-transfer-of-19-equity-stake-in-bharti-telemedia
Later in January, Airtel had decided to transfer 25% equity shares in Bharti Telemedia to its wholly owned subsidiary Nettle Infrastructure Investments. The company had also said that the stake transfer to Nettle does not include equity to be sold to private equity firm Warburg Pincus.
Bharti Airtel said in a filing to the BSE: “Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board in its meeting held on March 12, 2018, has approved the transfer of 19% equity shares of Bharti Telemedia Limited (‘Telemedia’), a subsidiary Company to Nettle Infrastructure Investments Limited, a wholly owned subsidiary company.”
Source: http://cablequest.org/index.php/news/dth-news/item/12375-airtel-board-approves-transfer-of-19-equity-stake-in-bharti-telemedia
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