Airtel to lower direct stake in telecom tower firm Infratel

32 per cent shares to be transferred to unit; stock price goes up post announcement

Bharti Airtel is planning to reduce its direct stake in telecom tower firm Bharti Infratel by more than half, to 18.3 per cent by selling about 32 per cent of shares to another subsidiary, Nettle Infrastructure Investments Ltd.

The board of Bharti Airtel, in order to explore a potential monetisation of stake in Bharti Infratel in the future, has approved sale or transfer of up to 59.19 crore shares of Infratel to Nettle Infrastructure Investments in its meeting on December 20, the company informed the stock exchanges on Tuesday. This was also informed to the stock exchanges on the same day, it added.