Shares of Bharti Airtel were trading with gains of 0.42 per cent as of 10:30 am while Indus Towers shares were down 1.63 per cent. At the same time, Vodafone Idea was trading with losses of nearly 5 per cent, even as the benchmark indices were up 0.45 per cent.
Bharti Airtel
is in talks to buy UK-based Vodafone Group s 21.05%
stake in Indus Towers, potentially giving the Indian
telecom operator a controlling stake, the Economic Times
newspaper reported on.
Airtel is the biggest shareholder in Indus Towers, with a 47.95 percent stake. If it acquires Vodafone stake, Airtel s shareholding in the tower company will climb to 69 percent
Bharti Airtel denies plans to increase its stake in Indus Towers, contrary to reports. Airtel asserts its commitment to maintaining Indus s financial stability, crucial for its telecom infrastructure. Speculations of Airtel acquiring Vodafone s stake could potentially grant it control, though Airtel refrains from such intentions.