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New Delhi, Dec 2
Bharti Airtel has announced that its wholly-owned subsidiary Nettle Infrastructure Investments Ltd has bought additional stake of 4.94 per cent in Bharti Infratel for Rs 2,882.32 crore through block deals.
Post the transaction, Nettle's stake in Bharti Infratel has increased to 18.62 per cent."With this acquisition by Nettle, the aggregate shareholding of the company (Bharti Airtel) and Nettle stands increased to 41.66 per cent in lnfratel," Bharti Airtel said in a regulatory filing.
It added that since the acquisition has been undertaken on the stock exchange, the same does not fall within the purview of 'related party transactions'.
Bharti Infratel recently merged with Indus Towers.