CCI Approves Bharti Airtel's Stake Hike to 50.005% in Indus Towers

22 Oct 2024 , 10:01 PM

Competition Commission of India (CCI) has approved Bharti Airtel to raise its stake in Indus Towers Limited to 50.005%. This move follows a share buyback by Indus Towers.

At the time of closing, on October 22, 2024, shares of Bharti Airtel closed at ₹1690 which is a 0.15% dip than the previous close. Bharti Airtel stock has gained a total of 79% in the last one year, and 66% surge since the beginning of the year.

In June, reports suggested that Airtel was in discussions with Vodafone Plc to acquire the remaining 3% stake in Indus Towers, as Airtel already owned 49% at the time.

Bharti Airtel has previously hinted at the potential consolidation of Indus Towers if required. Bharti Airtel, a key player in communications solutions, provides a wide array of services to its customers.

Indus Towers focuses on the deployment, ownership, and management of passive telecom infrastructure, serving multiple mobile operators across India.