Bharti Airtel on Wednesday initiated the first step to unlock the value ofits digital businesses by setting up a special committee of its boardof directors. Airtel said the committee would evaluate various options for the re-organisation of businesses and shareholding structure of the company and its various subsidiaries to achieve the required flexibility and sharper focus on digital and non-telecom businesses. This, it said, would enable any unlocking of enhanced value for its stakeholders. The company also announced the acquisition of Warburg Pincus’s 20 per cent stake in its direct-to-home (DTH) arm. Airtel, which is locked in a fierce competition with Reliance Jio in the telecom space, aims to align the ownership of its consumer-facing businesses, with the Warburg Pincus transaction. Separately the Sunil Mittal-led company is looking to scale up and monetise its digital businesses, which include music streaming app Wynk, content platform Xstream, cloud-based communicatio
Airtel to buy back 20% stake in Bharti Telemedia from Warburg Pincus for Rs 3,126 crore
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Airtel to acquire Warburg s 20% stake in its DTH arm for $429m
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Part of strategy to align all customer facing businesses under same holding group.
17 Feb, 2021 - 08:45 PM IST | By indiantelevision.com Team
New Delhi: Leading telecom operator Bharti Airtel is on course to acquire a 20 per cent stake in its direct-to-home television arm Bharti Telemedia from US private equity firm Warburg Pincus for Rs 31,260 million.
The amount will be discharged primarily via issuance of 36.47 million equity shares of Airtel at a price of Rs 600 per share and up to Rs 10,378 million in cash. “The issuance of shares proposed through preferential allotment is subject to shareholders’ approval,” the company stated in its regulatory filing.