Mumbai : Bharti Airtel on Tuesday said that the Company, alongwith its wholly-owned subsidiary, Nettle Infrastructure Investments Limited, has acquired 127,105,179 equity shares (4.7%) of Indus Towers Limited @ Rs 187.88 per share from Euro Pacific Securities Ltd., an affiliate of Vodafone Group Plc.
In February, Airtel had signed an agreement to buy Vodafone’s stake in Indus Towers on the principal condition that proceeds will be used for investment in Vodafone Idea (VIL) and clearing its outstanding dues towards the mobile tower company.
Indus Towers, formerly Bharti Infratel, provides passive telecom infrastructure. It deploys, owns and manages telecom towers and communication structures for various mobile operators.