Bharti Airtel sells 20 per cent stake in DTH arm to Warburg Pincus for $350 million

Global private equity firm Warburg Pincus’s affiliate will acquire a 20 per cent stake in Bharti Telemedia Limited, the direct-to-home (DTH) arm of Airtel. As per the deal, which is valued at $350 million, Bharti Airtel will sell a 15 per cent stake with the remaining 5 per cent being sold by another Bharti entity. Upon closure of the transaction, Airtel will own an 80 per cent stake in Bharti Telemedia. The company offers services under the Airtel TV brand and had around 14 million subscribers and approximately $550 million in revenues during the 12-month period ended September 30, 2017.