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.
The global setup is strong, with US stocks rising overnight and most Asian markets trading in black. Brent crude is also staying below the $90 mark, thanks to easing geopolitical tensions.
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.
Bharti Airtel on April 24 said it is not in talks to buy Vodafone UK s stake in Indus Towers, junking reports which said the telecom major was eyeing a controlling stake in the towers company