Telecom major Bharti Airtel Ltd on Monday said its Special Committee of Directors has granted approval to acquire up to an additional 5% stake in Indus Towers Ltd , a move aimed at consolidating its holding in the critical telecom infrastructure firm.

In a filing to the exchanges, Airtel said the authorisation enables the company to purchase the stake “in one or more tranches over a period of time,” depending on market conditions, liquidity, and price considerations, and in compliance with applicable laws.

“Given Indus Towers’ strategic importance, it is prudent for the parent company, Bharti Airtel, to continuously evaluate opportunities for consolidation while maintaining cash flow requirements for business capital expenditure and dividend payments,” the company said.

Indus Tow

See Full Page