Bharti Airtel to buy additional 4.7% stake in Indus Towers from Vodafone

Deal signed on condition that proceeds are used to clear Vi's dues

Bharti Airtel has decided to acquire an additional 4.7 per cent stake in Indus Towers from Vodafone Group, the company announced on Friday. The two companies signed an agreement on the condition that Vodafone will use the proceeds to invest in Vodafone Idea (Vi) and the latter will clear its pending dues with Indus Towers.

“The said acquisition purchase would be at an attractive price representing a significant discount typically available for such large block transactions. In addition, Airtel is also protected with a capped price, which is lower than the price for the block of Indus shares sold by Vodafone