Private telecom service provider Bharti Airtel on Friday said it has hiked its stake in Bharti Hexacom to 70 per cent by acquiring 1.1 per cent from a Kuwait based firm.
Bharti Airtel Ltd has informed the BSE that the company has acquired 1.11 per cent stake, or 2,780,306 equity shares, in Bharti Hexacom Ltd from Mobile Telecommunications Co, KSC, Kuwait.
With this acquisition, the company's shareholding in Bharti Hexacom stands increased to 70 per cent from 68.89 per cent, the filing added.
Bharti Hexacom offers cellular services and Mobile Telecommunications has active roaming agreements with Bharti Hexacom.
Bharti was trading at Rs 636, down 1.65 per cent on the BSE.