Bharti Airtel dips 3% on plans to buy 4.7% stake in Indus from Vodafone

The agreement in on the principal condition that the amount paid shall be inducted by Vodafone as fresh equity in VIL and simultaneously remitted to Indus Towers to clear VIL's outstanding dues.

Shares of Bharti Airtel were down 3 per cent at Rs 666.90 on the BSE in Monday’s intra-day trade after the company inked a pact with the Vodafone Group to buy additional 4.7 percent stake in Indus Towers.

Meanwhile, shares of Indus Towers traded flat at Rs 215, as compared to a 1.7 per cent decline on the S&P BSE Sensex at 09:28 am. The stock of Vodafone Idea (VIL) was down 1 per cent at Rs 10.18, after hitting low of Rs 10.06 in intra-day trade on the BSE.

Bharti Airtel has entered into an agreement with