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Bharti Airtel seeks India clearance for past acquisition of DTH arm following order from CCI

( November 2, 2023, 07:33 GMT | Official Statement) -- MLex Summary: Bharti Airtel, India's leading telecom mobile operator, has sought clearance for consummating an acquisition of 20 percent in its DTH arm, Bharti Telemedia, from Warbug Pincus' affiliate Lion Meadow Investment in March 2021. In its merger filing, Bharti Airtel reiterated that with its majority shareholding of 80 percent, the balance acquisition of a 20 percent stake in Bharti Telemedia would not result in any change of control from joint control to sole control. The delayed merger filling is a fallout of the Indian antitrust watchdog penalizing Bharti Airtel for gun-jumping. The Competition Commission of India imposed a penalty of 10 million rupees ($125,000) and directed the telecom major to file for a merger clearance within 60 days of its order....

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