Bharti buys Telia stake for $59 mn

New Delhi, June 08: Sunil Mittal-owned Bharti Group has acquired 26 per cent stake of Telia A B of Sweden in Bharti Mobile for 59 million dollars making it a 100 per cent subsidiary of Bharti Cellular.
Bharti Cellular operates mobile telecom services in the cirlces of Karnataka, Andhra Pradesh, and Punjab.

With the acquisition of this stake, Bharti Cellular has completed 100 per cent ownership in all its operating companies, with an exception of Chennai mobile operations, Bharti officials said here.

In Chennai, DSS Enterprises hold 47 per cent stake in the Bharti Mobile.

Commenting on the deal, Mittal said, "We are pleased to consolidate our stake in these mobile operations. This also paves the way for completing the consolidation process of all our mobile operations under Bharti Cellular Ltd." Bureau Report