Airtel eyes Vodafone’s 21.05 per cent in Indus

Bharti Airtel is in talks to buy UK-based Vodafone Group’s 21.05 per cent stake in Indus Towers, which could potentially give India’s second ranked telco a controlling interest. If Vodafone Plc sells its Indus stake to Airtel, it could infuse some of the proceeds into Vodafone Idea (Vi), its cash-strapped, local telecom venture with the Aditya Birla Group. However, negotiations are stuck over valuation, with Airtel unwilling to acquire Vodafone’s stake at the current Indus share price, which has jumped over 77 per cent since January. Airtel, instead, wants a valuation of Rs 210-212 a share, or the level at which US private equity fund KKR and Canadian pension fund CPPIB had sold stock in Indus in February 2024.