Bharti Airtel Services to acquire 97.1 per cent stake in Beetel Teletech

According to a regulatory filing, Bharti Airtel Services, a wholly owned subsidiary of Bharti Airtel, has entered into an agreement for the acquisition of 4.94 million equity shares, representing a 97.1 per cent stake in Beetel Teletech Limited, another Bharti Group company. Consequently, Beetel will become a subsidiary of the company. The acquisition, estimated at Rs 6.69 billion, in a cash transaction, is part of the company’s strategy to facilitate indigenisation initiatives within its telecom product ecosystem in line with the government’s Make in India policy.