M&A

M&A

Airtel to acquire 97.1% stake in group telecom hardware firm Beetel

Business Line  

Bharti Airtel Services, a wholly-owned subsidiary of publicly listed Bharti Airtel, is to acquire 49.45 lakh shares or a 97.1% stake in Beetel Teletech, another Bharti Group company focused on telecom hardware, for INR 669 crore. The deal will enable the acquirer to create its own ecosystem of telecom products and add distribution and service capabilities (including system integration) largely for the enterprise business.