Bharti Airtel on Wednesday said it would acquire 20% stake in Bharti Telemedia, its DTH arm, from an affiliate of Warburg Pincus for ₹3,126 crore. The amount will be discharged via issuance of about 36.47 million equity shares of Bharti Airtel at a price of ₹600 per share and up to ₹1,037.80 crore in cash, the company said in a statement.
In a separate communique to stock exchanges, Bharti Airtel said its board, at a meeting held on Wednesday, had constituted a ‘Special Committee of Directors’ to consider and evaluate in detail ‘various options for re-organisation of businesses and shareholding structure of the company’ for possible ‘unlocking of value for shareholders’.
A Warburg Pincus affiliate had, in December 2017, agreed to acquire a 20% equity stake in Bharti Telemedia.
