Bharti Telecom increases stake in Airtel to 50.10 per cent

Bharti Telecom has increased its shareholding in Bharti Airtel to 50.10 per cent by acquiring over 184.7 million shares from Indian Continent Investment Ltd (ICIL).

Bharti Telecom is the promoter of Bharti Airtel, India's largest telecom services provider.

"...the company has received a communication dated November 3, 2017 from Bharti Telecom, the promoter of the company that it has acquired 184,710,183 equity shares of the company from Indian Continent Investment," Bharti Airtel said in a BSE filing.

The shares represent 4.62 per cent of the paid-up share capital of the company, it added.

"Consequent to the aforesaid acquisition, the shareholding of Bharti Telecom in the company has increased from 45.48 per cent to 50.10 per cent," it said.

Bharti Telecom has acquired the shares from ICIL (another promoter firm) at a price of Rs 417.35 per share. ICIL's stake will come down to 2.03 per cent.