Bharti Airtel transfers 25% stake in DTH arm to Nettle Infra

[Sai Jai]

NEW DELHI: Bharti Airtel will transfer its 25 per cent stake in DTH arm Bharti Telemedia to wholly owned subsidiary Nettle Infrastructure Investments, as per a regulatory filing.

"...we wish to inform you that the Board in its meeting held on January 18, 2018 has approved the transfer of 25 per cent equity shares of Bharti Telemedia Limited (Subsidiary Company) to its wholly owned subsidiary; Nettle Infrastructure Investments Limited," Bharti Airtel said in a BSE filing.

The date of transaction of the sale is yet to be decided by the company.

Airtel in December signed agreement to sell 20 per cent stake in Bharti Telemedia to private equity firm Warburg Pincus for about USD 350 million (around Rs 2,310 crore).

A company official said that the stake transfer to Nettle does not include equity to be sold to Warbug Pincus.

Upon closing of the transaction with the equity firm, Airtel was left with 80 per cent equity stake in Bharti Telemedia.

In a separate filing, Airtel said that the company's board on the same day also approved acquisition of 5 per cent stake in its subsidiary Indo Teleports (also known as Bharti Teleports) for Rs 2.3 crore.

Bharti Airtel already holds 95 per cent stake in Indo Teleports.

Bharti Airtel transfers 25% stake in DTH arm to Nettle Infra - ET Telecom

 

[Sarkar]

isn't it the old news?

DTH Updates - Bharti Airtel sells 20% stake in DTH arm

 

[Sai Jai]

isn't it the old news ?

I dont think so

The below news is old article itself clarifies & dated today rest upto team

A company official said that the stake transfer to Nettle does not include equity to be sold to Warbug Pincus.

 

[Sarkar]

I dont think so

The below news is old article itself clarifies & dated today rest upto team

So airtel is selling DTH stack to 2 companies ? 20% to first one reported in Dec and now again 25% to new one ? So airtel share will be 55% after completion of these two ?

 

[karan_hdl]

isn't it the old news?

DTH Updates - Bharti Airtel sells 20% stake in DTH arm

No bro this is seperate deal of transfer of stake between their own companies and doesn't include Warburg pincus deal.

 

[Sarkar]

No bro this is seperate deal of transfer of stake between their own companies and doesn't include Warburg pincus deal.

What you mean by own companies ?

 

[Mr monk]

What you mean by own companies ?

"...we wish to inform you that the Board in its meeting held on January 18, 2018 has approved the transfer of 25 per cent equity shares of Bharti Telemedia Limited (Subsidiary Company) to its wholly owned subsidiary; Nettle Infrastructure Investments Limited," Bharti Airtel said in a BSE filing.

 

[Sarkar]

"...we wish to inform you that the Board in its meeting held on January 18, 2018 has approved the transfer of 25 per cent equity shares of Bharti Telemedia Limited (Subsidiary Company) to its wholly owned subsidiary; Nettle Infrastructure Investments Limited," Bharti Airtel said in a BSE filing.

I thought Bharati Infratel is their only infra subsidiary