Seven companies marketcap decreases by over Rs 1 lakh crore
Last week, Nifty fell 50 points or 0.20 per cent to 24,964 and Sensex fell 307 points or 0.38 per cent to 81,381. This was the second consecutive week when the market closed in the red.
Bharti Airtel on Wednesday announced that Nettle Infrastructure Investments Ltd has bought additional equity stake of 4.94 per cent in Bharti Infratel for Rs 2,882.32 crore through block deals. With this, Nettle’s stake in Bharti Infratel has increased to 18.62 per cent.
“With this acquisition by Nettle, the aggregate shareholding of the company (Bharti Airtel) and Nettle stands increased to 41.66 per cent in lnfratel,” Bharti Airtel said in a regulatory filing issued.
It added that since the acquisition has been undertaken on the stock exchange, the same does not fall within the purview of ‘related party transactions’.
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Bharti lnfratel Limited is engaged in activities of providing Telecom Tower Infrastructure sharing for telecommunication services.
The company was incorporated on November 30, 2006 with the object of, inter-alia, setting up, operating and maintaining wireless communication towers.
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