Bharti Airtel Gets CCI Approval to Increase Stake in Indus Towers to 50.005% | Sunil Mittal’s Major Telecom Move

In a significant development for Bharti Airtel, the Competition Commission of India (CCI) has approved the telecom giant’s proposal to increase its stake in Indus Towers to 50.005%. This approval comes after Indus Towers, a leading passive telecom infrastructure provider, initiated a buyback of shares, solidifying Bharti Airtel’s position as a major player in the telecom sector.

Bharti Airtel Strengthens Its Stake

The CCI’s nod allows Bharti Airtel to surpass the 50% ownership mark in Indus Towers, following the Rs 2,640-crore share buyback scheme that commenced in August. As per the buyback plan, Indus Towers is repurchasing over 5.67 crore shares at Rs 465 each, representing about 2.107% of the total equity shares. Bharti Airtel, already holding a 50% stake, is now poised to increase its influence in the telecom infrastructure space with this new stakeholding.

Indus Towers: A Key Telecom Infrastructure Provider

Indus Towers deploys, owns, and manages passive telecom infrastructure across India, catering to various mobile operators. Bharti Airtel’s increased stake in Indus Towers strengthens its ability to offer comprehensive communication solutions to its vast customer base.

Sunil Mittal’s Strategic Move

This latest approval marks a major move for Sunil Mittal, the Chairman of Bharti Airtel, as the company continues to solidify its dominance in the telecom sector. The acquisition of a controlling stake in Indus Towers is expected to enhance Bharti Airtel’s infrastructure capabilities, positioning it well for future growth.

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