Shares of Bharti Airtel hit a three-week high on Wednesday after a media report said a global consortium, led by private equity firm KKR & Co, is in talks to acquire the company’s subsidiary Bharti Infratel and Indus Towers for around $11 billion.
The KKR-led consortium will increase its stake in Bharti Infratel from the current over 10% to become the single largest shareholder, according to the report. Bharti Airtel holds 50.3% stake in the company currently.
Bharti Infratel will buyout Indus Towers from Vodafone, Idea Cellular and Providence Equity Partners in Indus Towers first, the report said. Currently, Bharti Infratel owns 42% in Indus Towers.
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