Bharti Airtel Secures CCI Approval to Boost Stake in Indus Towers Beyond 50% Amid Share Buyback in Telecom Infrastructure Push

The Competition Commission of India (CCI) has given Bharti Airtel the go-ahead to raise its stake in Indus Towers to over 50%. This follows Indus Towers’ share buyback program. Indus Towers is a company that provides passive telecom infrastructure, like cell towers, for mobile operators.

The CCI, in its statement, said it approved Bharti Airtel’s plan to increase its ownership in Indus Towers to 50.005% after the buyback.

Back in August, Bharti Airtel announced its intention to own more than half of Indus Towers once the company completed its ₹2,640-crore share buyback program. Indus Towers started the buyback of 5.67 crore shares at ₹465 each on August 14, which represents about 2.107% of its total equity.

Currently, Bharti Airtel, which is one of the promoters of Indus Towers, already holds a 50% stake, according to stock exchange records.

CVC Capital’s Acquisition of Aavas Financiers Gets CCI Nod

In a separate decision, the CCI also approved a proposal by Luxembourg-based CVC Capital Partners to acquire Aavas Financiers, a company that offers home loans, MSME loans, and loans against property. Aavas is a non-deposit taking housing finance company registered with the National Housing Bank.

CVC’s acquisition will be done through Aquilo House Pte Ltd, an affiliate of CVC Capital Partners. The deal includes acquiring 26.47% of Aavas Financiers’ shares from Lake District Holdings, which is linked to Kedaara Capital, and other shareholders. As per regulatory norms, CVC will also need to make an open offer to acquire more shares, since its ownership will exceed 25%.

Deals of this size require approval from regulators to ensure fair competition and prevent unfair business practices.