A combined 74.4 million equity shares had changed hands on the bourses till 9:52 AM. According to reports, British telecom giant Vodafone was in discussions to sell around 5% stake in Indus Towers
Bharti Airtel on Wednesday said its subsidiary Nettle Infrastructure Investments has acquired an additional 4.94 per cent stake in Bharti Infratel for Rs 2,882.32 crore.
Analysts at ICICI Securities see near-term stock supply only from Providence PE, which may monetise its stake as it had earlier opted for part cash-out
Apart from double taxation benefits on dividend pass through, there would not be major benefit for Bharti Infratel as a combined entity, say analysts at ICICI Securities
British telecom major Vodafone Group said it has received an approval from its lenders, who contributed in funding for Vodafone Idea, to proceed with the merger of Indus Towers with Bharti Infratel
Infratel will be a majority shareholder in the merged entity with a likely stake of 68.6%, while London-listed Vodafone Group Plc (VOD.L) will hold 28.2%
Vodafone Idea has decided to cash out by selling its 11.15 percent stake in Indus. The move comes ahead of the Supreme Court's verdict in the AGR case today
Shares of Zee Entertainment Enterprises fell 3.7 per cent and that of Bharti Infratel ended flat. The two companies will be removed from the bluechip index
