Nettle Infra to buy 21.6% stake in Bharti Infratel

New Delhi: Nettle Infrastructure Investment Ltd, a wholly-owned subsidiary of Bharti Airtel, plans to acquire 21.63 per cent stake or 400 million shares in Bharti Infratel Ltd for an estimated Rs 12,400 crore (US$ 1.89 billion). The Transaction price would be at or around the market price prevailing on the date of acquisition, which would not be higher by more than 25 per cent of Rs 310.04 (US$ 4.74) per share. The resulting acquisition will bring down Bharti Airtel's stake in Infratel from 71.96 per cent to 50.33 per cent .

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.