Indian telecom operator Bharti Airtel Ltd is in early talks for a majority stake in broadcast satellite service provider Dish TV India Ltd. Reports have said it on Thursday.
According to sources, Airtel is looking to buy a 5.93% stake from Dish TV’s promoter group. The reports have said that along with Dish TV it is also looking to buy a 25.63% stake owned by Yes Bank Ltd. According to Refinitiv data, the lender is the largest shareholder.
However, sources say the carrier has offered 20 rupees per share for the 5.93% of Dish TV owned by the promoter group. The amount represents a 14% premium to Dish TV’s closing price on Wednesday.
The carrier will offer to buy the remaining shares from other investors until it owns a 51% stake. This will be once the promoters and Yes Bank accept Airtel’s offer. However, Airtel declined to comment, while Dish TV said in a regulatory filing that it was not aware of the transaction.