Bharti Airtel Ltd and Warburg Pincus announced that Warburg Pincus will acquire up to a 20% stake in Airtel’s DTH arm Bharti Telemedia for $350 mn.
Of the 20% to be acquired by Warburg, 15 per cent will be sold by Bharti Airtel and the balance by another Bharti entity.
Bharti Telemedia is one of the largest in the over 65-million direct-to-home (DTH) paid subscriber market in the country. It had approximately 14 million subscribers.
Gopal Vittal, MD & CEO (India & South Asia), Bharti Airtel, said, “Airtel has enjoyed a very successful partnership with Warburg Pincus in the past and we are excited to partner with them once again in an attractive and fast growing space.”