CCI Approves Bharti Airtel's Stake Increase in Indus Towers and CVC's Acquisition of Aavas Financiers

The Competition Commission of India (CCI) has approved Bharti Airtel's proposal to increase its stake in Indus Towers to 50.005% following a share buyback. Additionally, CCI cleared CVC Capital Partners' acquisition of Aavas Financiers, triggering an open offer obligation in compliance with Indian regulations.

The Competition Commission of India (CCI) has given the green light for Bharti Airtel to boost its stake in Indus Towers to 50.005% following a share repurchase by the telecom infrastructure company. Indus Towers, a leading provider of passive telecom infrastructure, facilitates services for multiple mobile operators.

Bharti Airtel has announced plans to increase its stake after Indus Towers' Rs 2,640-crore share buyback, amounting to over 5.67 crore shares at Rs 465 each. Currently, as per exchange records, Bharti Airtel controls a 50% stake in Indus Towers.

Additionally, the CCI has approved CVC Capital Partners' proposal to acquire Aavas Financiers. The transaction involves Aquilo House Pte Ltd acquiring shares and control of Aavas from existing promoters, necessitating an open offer as per Sebi's SAST norms. The deal marks a significant shift in Aavas Financiers' shareholding structure.

(With inputs from agencies.)