Bharti Telecom buys 14.93 lakh Airtel shares

Bharti Telecom, the majority stakeholder in the country's largest private telecom operator Bharti Airtel, has purchased a total of over 14.93 lakh shares of the company for Rs 54.51 crore, through open market transactions.

Bharti Telecom has purchased a total of 14,93,046 shares of the telecom firm through four market transactions worth a cumulative Rs 54.51 crore, Bharti Airtel said in a disclosure to the BSE.

Prior to the acquisition, the promoter group firm held a 45.55% in the company, which has now increased to 45.58%, as per the filing.

The promoter group firm acquired the shares on November 23 and November 24, 2011, it added.

As per the shareholding pattern available on the BSE for the quarter ended September, Bharti Telecom held a 45.54% stake in Bharti Airtel.

Recently, two top executives of Bharti Airtel sold a total of 1.15 lakh shares of the company worth Rs 4.60 crore through open market transactions.

Shares of Bharti Airtel were trading at Rs 377.90 on the BSE, down 0.07% from their previous close.