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Bharti Airtel to sell non-controlling stake in Infratel

Press Trust of India  |  New Delhi 

Telecom operator has shelved plans to sell controlling stake in its mobile tower arm Bharti Infratel but has decided to monetise 21.63 per cent equity in the company.

"....The Board has at its meeting held on March 14, 2017 ...Decided not to monetise a controlling stake in Infratel for now," said in a regulatory statement.



The company has decided to sell or transfer 400 million to its wholly-owned subsidiary Nettle Infrastructure Limited or to any potential investor.

"Instead, the Board has decided that the company undertake a sale/transfer of upto 400 million Infratel equity owned by company which is over and above a controlling stake in Infratel, in such tranche(s), at such time(s) and for such consideration as may be deemed fit to its wholly-owned subsidiary Nettle Infrastructure Limited and/or to any other potential investor(s)," the statement added.

on October 25, 2016 had authorised a Committee of Directors to evaluate options for monetisation of a significant stake in Bharti Infratel.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Bharti Airtel to sell non-controlling stake in Infratel

Telecom operator Bharti Airtel has shelved plans to sell controlling stake in its mobile tower arm Bharti Infratel but has decided to monetise 21.63 per cent equity in the company. "....The Board has at its meeting held on March 14, 2017 ...Decided not to monetise a controlling stake in Infratel for now," Bharti Airtel said in a regulatory statement. The company has decided to sell or transfer 400 million shares to its wholly-owned subsidiary Nettle Infrastructure Investments Limited or to any potential investor. "Instead, the Board has decided that the company undertake a sale/transfer of upto 400 million Infratel equity shares owned by company which is over and above a controlling stake in Infratel, in such tranche(s), at such time(s) and for such consideration as may be deemed fit to its wholly-owned subsidiary Nettle Infrastructure Investments Limited and/or to any other potential investor(s)," the statement added. Bharti Airtel on October 25, 2016 had authorised a Committee ... Telecom operator has shelved plans to sell controlling stake in its mobile tower arm Bharti Infratel but has decided to monetise 21.63 per cent equity in the company.

"....The Board has at its meeting held on March 14, 2017 ...Decided not to monetise a controlling stake in Infratel for now," said in a regulatory statement.

The company has decided to sell or transfer 400 million to its wholly-owned subsidiary Nettle Infrastructure Limited or to any potential investor.

"Instead, the Board has decided that the company undertake a sale/transfer of upto 400 million Infratel equity owned by company which is over and above a controlling stake in Infratel, in such tranche(s), at such time(s) and for such consideration as may be deemed fit to its wholly-owned subsidiary Nettle Infrastructure Limited and/or to any other potential investor(s)," the statement added.

on October 25, 2016 had authorised a Committee of Directors to evaluate options for monetisation of a significant stake in Bharti Infratel.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Business Standard
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Bharti Airtel to sell non-controlling stake in Infratel

Telecom operator has shelved plans to sell controlling stake in its mobile tower arm Bharti Infratel but has decided to monetise 21.63 per cent equity in the company.

"....The Board has at its meeting held on March 14, 2017 ...Decided not to monetise a controlling stake in Infratel for now," said in a regulatory statement.

The company has decided to sell or transfer 400 million to its wholly-owned subsidiary Nettle Infrastructure Limited or to any potential investor.

"Instead, the Board has decided that the company undertake a sale/transfer of upto 400 million Infratel equity owned by company which is over and above a controlling stake in Infratel, in such tranche(s), at such time(s) and for such consideration as may be deemed fit to its wholly-owned subsidiary Nettle Infrastructure Limited and/or to any other potential investor(s)," the statement added.

on October 25, 2016 had authorised a Committee of Directors to evaluate options for monetisation of a significant stake in Bharti Infratel.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22