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.