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Bharti Airtel to lower stake in Infratel

ANI 

Limited said on Tuesday that its Airtel will lower its direct stake in the telecom tower company from 50.33 per cent to 18.3 per cent.

Airtel's unit will buy up to 32 per cent stake in by March 18, informed stock exchanges in regulatory filings.

Nettle, which already owns a 3.18 per cent stake in Infratel, will buy Infratel shares for up to Rs 362.45 each.

Airtel has faced bruising competition since the entry of Reliance Industries' upstart in late 2016. Its profit margins were trimmed while the debts soared.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 12 2019. 18:37 IST
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