{"id":107301,"date":"2021-02-17T15:17:16","date_gmt":"2021-02-17T15:17:16","guid":{"rendered":"https:\/\/fin2me.com\/?p=107301"},"modified":"2021-02-17T15:17:16","modified_gmt":"2021-02-17T15:17:16","slug":"bharti-airtel-to-buy-warburg-pincus-stake-in-dth-business-for-430-million","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/bharti-airtel-to-buy-warburg-pincus-stake-in-dth-business-for-430-million\/","title":{"rendered":"Bharti Airtel to buy Warburg Pincus stake in DTH business for $430 million"},"content":{"rendered":"
FILE PHOTO: A man wearing a protective face shield cleans a Bharti Airtel logo inside its store in Kolkata, India, July 7, 2020. REUTERS\/Rupak De Chowdhuri<\/figcaption>

BENGALURU (Reuters) – Indian telecom operator Bharti Airtel Ltd said on Wednesday it will buy U.S. private equity firm Warburg Pincus\u2019 20% stake in its direct-to-home television arm for 31.26 billion rupees ($429.31 million).<\/p>\n

Bharti Airtel, which is looking to consolidate the shareholding of its consumer facing businesses, said it will issue about 36.5 million shares to a Warburg Pincus affiliate at 600 rupees per share, and pay up to 10.38 billion rupees in cash.<\/p>\n

Lion Meadow Investment, a Warburg Pincus affiliate, bought the stake in Bharti Telemedia in 2017.<\/p>\n

Bharti Airtel said on Wednesday it has set up a special committee to evaluate options for reorganising its businesses and shareholding structure, as the company sharpens focus on its digital and non-telecom businesses.<\/p>\n

The company\u2019s core telecom business in India has come under pressure since Mukesh Ambani\u2019s Reliance Jio entered the space with cut-price tariffs, pushing players such as Airtel to focus on digital services.<\/p>\n

Last August, Airtel tied up with Amazon Web Services to develop its own cloud business, allowing the telecom operator to offer a wider range of products to its enterprise clients.<\/p>\n

India\u2019s wireless market, with over a billion subscribers, has tariffs that are among the cheapest in the world while airwaves are among the most expensive.<\/p>\n

($1 = 72.8140 Indian rupees)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FILE PHOTO: A man wearing a protective face shield cleans a Bharti Airtel logo inside its store in Kolkata, India, July 7, 2020. REUTERS\/Rupak De […]<\/p>\n","protected":false},"author":3,"featured_media":107300,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBharti Airtel to buy Warburg Pincus stake in DTH business for $430 million - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/bharti-airtel-to-buy-warburg-pincus-stake-in-dth-business-for-430-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bharti Airtel to buy Warburg Pincus stake in DTH business for $430 million - Fin2me\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: A man wearing a protective face shield cleans a Bharti Airtel logo inside its store in Kolkata, India, July 7, 2020. 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