Bharti Increases Airtel Stake To 50 Percent

A Bharti group company has acquired 4.99 percent direct holding in Bharti Airtel, the largest private sector telecom company, from Vodafone. [via Business Standard] With this acquisition, the Bharti group companies had enhanced their voting interest in Bharti Airtel to over 50 per cent. Earlier this year, Bharti had said it would buy 5.6 per cent from Vodafone for $1.6 billion. Based on this price, Bharti will have to fork out $1.42 billion, or Rs 5,600 crore, for the 4.99 per cent stake.

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