CCI greenlights Airtel's acquisition of Warburg Pincus Affiliate's DTH stake: Reports

According to reports, CCI will soon be publishing a detailed public order on the same.

By  Storyboard18May 2, 2024 9:45 AM
CCI greenlights Airtel's acquisition of Warburg Pincus Affiliate's DTH stake: Reports
According to Airtel's submission to CCI, this deal simply involves combining ownership within their company group. (Image source: Moneycontrol)

Bharti Airtel, has received approval from the country's antitrust regulator Competition Commission of India (CCI) to buy an a 20 percent stake in its DTH arm Bharti Telemedia, from a New York-based private equity firm Warburg Pincus.

According to reports, CCI will soon be publishing a detailed public order on the same.

Last year, Airtel reached out to CCI for their approval for this deal.

Airtel had explained to the competition commission that this deal simply involves combining ownership within their company group. They emphasized that this transaction won't affect the market competition, bring in new players, or change how Bharti Telemedia operates.

The news soon after another similar development in the space. Tata Sons, the holding company of the Tata Group, has also recently increased its stake in direct-to-home (DTH) provider Tata Play by 10 percent, acquiring the shares from Singapore investment firm Temasek for approximately $100 million.


Tags
First Published on May 2, 2024 9:45 AM

More from Storyboard18

Quantum Brief

Paytm to increase marketing spends in FY 25; experts chart the comeback plan

Paytm to increase marketing spends in FY 25; experts chart the comeback plan

Quantum Brief

Honasa Consumer Ltd records highest ever quarterly PAT of Rs. 30 Cr; Mamaearth revenue rises 21 percent

Honasa Consumer Ltd records highest ever quarterly PAT of Rs. 30 Cr; Mamaearth revenue rises 21 percent

Quantum Brief

OpenAI and News Corp announce multi-year partnership

OpenAI and News Corp announce multi-year partnership

Quantum Brief

Mamaearth-parent Honasa Consumer has highest number of ad violations: ASCI Complaints Report

Mamaearth-parent Honasa Consumer has highest number of ad violations: ASCI Complaints Report

Quantum Brief

DS Group's confectionery business touches Rs 1,000 cr sales turnover in FY24

DS Group's confectionery business touches Rs 1,000 cr sales turnover in FY24

Quantum Brief

ZEE Layoffs: Earlier stated aim of 15% workforce reduction results in more job cuts?

ZEE Layoffs: Earlier stated aim of 15% workforce reduction results in more job cuts?

Quantum Brief

FSSAI finds no EtO traces in spice samples of MDH and Everest

FSSAI finds no EtO traces in spice samples of MDH and Everest

Quantum Brief

ZEEL reports profit of Rs.13.35 crore in Q4FY24

ZEEL reports profit of Rs.13.35 crore in Q4FY24