For Quick Alerts
For Daily Alerts

Bharti Airtel has no intention to buy back Vodafone stake: Media Reports

By Religare
Bharti Airtel has no intention to buy back Vodafone stake
Sunil Mittal, Group Chairman of Bharti Airtel, has said that he has no intention of buying back around 4 per cent stake that UK-based Vodafone holds in his Bharti Airtel.

"We have no intention (to do that)," Mittal told reporters after the company's Annual General Meeting, when asked whether the company would buyback its Vodafone stake following new rules that bar holding stake in competitors. Vodafone holds 4.4 per cent stake indirectly in Bharti.

Vodafone will have to sell its entire stake in Airtel following new norms issued by government that bars a telecom operator from holding any kind of stake in competition under Unified Licences, reported PTI.

Vodafone and Airtel currently operate on Unified Access Service Licence (UASL) licence, or 2G licences, under which telecom companies are permitted to hold stake up to 9.9 per cent in other firms, said the reports.

Dion Global Solutions Ltd.

Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more