Bharti Airtel not in talks for buying Vodafone UK's stake in Indus Towers

25 Apr 2024 , 08:36 AM

Bharti Airtel has clarified that it is not engaged in any discussions to acquire Vodafone UK’s stake in Indus Towers. The company emphasized its intention to maintain its stake at a level required for ensuring Indus Towers’ financial stability.

Airtel emphasized Indus Towers’ role as a provider of critical infrastructure services to the telecom industry, highlighting its reliance on the company and its commitment to ensuring Indus’ financial stability.

The clarification came in response to reports suggesting talks between Bharti Airtel and Vodafone Group regarding the acquisition of Vodafone’s stake in Indus Towers, potentially leading to Airtel gaining a controlling interest in the telecom infrastructure company.

Currently, Bharti Airtel holds the largest stake in Indus Towers at 47.95%, while Vodafone Group holds 21.05%. Public shareholding stands at 30.97%. If Airtel were to acquire Vodafone Plc’s shares, its stake in Indus Towers would increase to 69%.

In response to this news, shares of Bharti Airtel Ltd. were trading 0.32% lower at ₹1,338.05 apiece on the NSE. Meanwhile, shares of Indus Towers Ltd. and Vodafone Idea Ltd. fell by up to 3.32% at ₹347.55 in Wednesday’s trading session.

Vodafone Idea shares had gained attention recently due to the telecom operator’s ₹18,000 Crore follow-on public offer (FPO). Reports suggested that if Vodafone Plc sells its stake in Indus Towers to Bharti Airtel, some proceeds could be infused into Vodafone Idea.

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