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Airtel gets FDI nod to offload 20% stake in DTH unit to Warburg Pincus

According to the contours of the deal announced in late 2017, Bharti Airtel will sell its 15 per cent stake in direct-to-home arm

Press Trust of India  |  New Delhi 

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has received clearance from the government for sale of 20 per cent stake in its arm to Warburg Pincus for $350 million, a source said.

The source privy to the development said that the (FDI) approval has been received for the deal, which was announced in December 2017.

When contacted, a spokesperson declined to comment on the matter.

According to the contours of the deal announced in late 2017, will sell its 15 per cent stake in direct-to-home arm, and the balance will be sold by another Bharti entity, which holds 5 per cent stake in the company.

The approval comes at a time when competition in the market is heating up -- has already announced it will offer a Set Top Box for TV when it launches ultra-high speed fibre-based broadband services.

Market watchers have said that Jio's aggressive offerings will pose a "serious competition" to TV distributors on both the and cable side, putting further pressure on falling average revenue per user.

First Published: Tue, August 28 2018. 23:00 IST
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