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    Bharti Airtel buys 4.9% stake in Bharti Infratel

    Bharti Airtel buys 4.9% stake in Bharti Infratel

    Bharti Airtel buys 4.9% stake in Bharti Infratel
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    By Nisha Poddar   IST (Published)

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    Bharti Airtel has purchased a 4.9 percent stake in Bharti Infratel, the group's tower infrastructure arm.

    Bharti Airtel has purchased a 4.9 percent stake in Bharti Infratel, the group's tower infrastructure arm, sources said.
    The purchase was carried out via block deals and are within norms for creeping acquisition -- which limit promoter purchases at 5 percent of equity in a year.
    Sources told CNBC-TV18 that Providence, Edge Point and FIIs likely sold 14.7 crore shares at Rs 216-224 per share. They added that Vodafone Idea and PE firm KKR, which also hold stake in the company, were not among the sellers.
    Bharti Infratel shares were up above 3 percent in trade today while Bharti Airtel was up 0.5 percent.
    Bharti Airtel was unavailable for comment.
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