New Delhi: Telecom operator Bharti Airtel on Wednesday said it is not discussing acquiring British telecom giant Vodafone Group's approximately 21 per cent stake in Indus Towers.
In a BSE filing, Airtel claimed that it has no desire to increase its stake in the company beyond that required for the financial consolidation of Indus, "which will be done as and when appropriate with compliance with the applicable disclosure requirements".
Bharti Airtel holds 47.95 percent stake in Indus Towers.
Airtel denied those reports, saying, "...we wish to clarify that Bharti Airtel is not in any discussions with Vodafone Group to acquire such stake in Indus Towers Limited." ,
Indus is a provider of critical infrastructure services to the telecom industry and Airtel is heavily dependent on it.
"Airtel will always ensure that Sindhu remains in strong health and financially stable," it added.
Indus Towers, one of India's largest passive telecom infrastructure providers, is scheduled to announce its March quarter and FY24 results on April 30, 2024.
The tower major had posted a consolidated profit after tax of Rs 1,541 crore in the December 2023 quarter, compared to a loss of Rs 708 crore in the year-ago period.
The company's consolidated revenue rose six per cent to Rs 7,199 crore in the third quarter of the last financial year (Q3FY24) from Rs 6,765 crore a year ago.
The telecom infrastructure company, in its last earnings call on January 24, had said it has collected Rs 300 crore of past dues in its accounts, as well as 100 per cent monthly collection from a key customer.
In a BSE filing, Airtel claimed that it has no desire to increase its stake in the company beyond that required for the financial consolidation of Indus, "which will be done as and when appropriate with compliance with the applicable disclosure requirements".
Bharti Airtel holds 47.95 percent stake in Indus Towers.
Airtel denied those reports, saying, "...we wish to clarify that Bharti Airtel is not in any discussions with Vodafone Group to acquire such stake in Indus Towers Limited." ,
Indus is a provider of critical infrastructure services to the telecom industry and Airtel is heavily dependent on it.
"Airtel will always ensure that Sindhu remains in strong health and financially stable," it added.
Indus Towers, one of India's largest passive telecom infrastructure providers, is scheduled to announce its March quarter and FY24 results on April 30, 2024.
The tower major had posted a consolidated profit after tax of Rs 1,541 crore in the December 2023 quarter, compared to a loss of Rs 708 crore in the year-ago period.
The company's consolidated revenue rose six per cent to Rs 7,199 crore in the third quarter of the last financial year (Q3FY24) from Rs 6,765 crore a year ago.
The telecom infrastructure company, in its last earnings call on January 24, had said it has collected Rs 300 crore of past dues in its accounts, as well as 100 per cent monthly collection from a key customer.
