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Bharti Airtel on Wednesday said it will acquire 20 per cent stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about Rs 3,126 crore. In December 2017, a Warburg Pincus affiliate, agreed to acquire 20 per cent equity stake in Bharti Telemedia Limited, the DTH arm of Airtel. The transaction will be done via issuance of 36.47 million equity shares of Airtel at a price of Rs 600 per share, and up to Rs 1037.8 crore in cash. The issuance of shares is proposed through preferential allotment is subject to shareholders’ approval. The proposed transaction is part of company s strategy to align the shareholding of its customer facing products, services and businesses under the same holding group, Airtel said in a stock exchange filing. ....
This transaction is part of its strategy to align the shareholding of its customer facing products, services and businesses under the same holding group ....