By Jonathan Easton
Indian telco giant Bharti Airtel is reportedly in talks to acquire a majority stake in broadcast satellite service provider Dish TV India.
According to local financial outlet Mint, Airtel is looking to buy the 25.63 per cent owned by Yes Bank, and a further 5.93 per cent from Dish TV’s promoter group. Yes Bank is Dish’s largest shareholder.
The report goes on to note that Airtel will look to increase its stake once the promoters and Yes Bank accept their offers, with the operator offering to buy up the remaining shares from other investors until it owns 51 per cent of the company.
Neither Airtel nor Dish have commented on the takeover plans, but Mint reported that execs from the former have met with Subhash Chandra, the founder of Dish TV parent company Essel Group.
