In February, Bharti Airtel Ltd announced it would buy out private equity (PE) firm Warburg Pincus’ stake in its direct-to-home television arm. The move will see Airtel acquire the 20% stake of Warburg affiliate Lion Meadow Investment for Rs 1,038 crore (~$141million).
A few days later, Bharti made another announcement. Airtel Digital—A Bharti subsidiary which houses its digital businesses—would acquire a 10% stake in Tata-owned Ferbine Private Ltd for a paltry Rs 50,000 (~$681). Ferbine was incorporated scarcely a month earlier, with the purpose of applying for a pan-India umbrella entity (PUE) licence from India’s central bank.