IndianMascot
Core Member
India's largest telecom operator, Bharti Airtel has started a process to sell up to 25% stake in the DTH arm of the company. Sources with direct knowledge suggest that the company is expecting a valuation of $1 bn. Bharti Airtel has already signed a non-disclosure agreement (NDA) with at least seven strategic and private equity players for the stake sale, sources confirmed.
U.S. based DTH players like Comcast and Liberty Global are said to be in talks with Bharti Airtel for buying stake in the DTH arm. Some of the private equity players like KKR, Providence, Bain Capital, GAAP are also said to be in the fray. Bharti is looking at raising over $200 mn via stake sale.
In an e-mail response to the query sent by ET Now, Bharti Airtel's spokesperson said, "As a company policy, we do not comment on market speculations." Companies and PE funds in talks with Bharti Airtel also declined to comment on the development.
Bharti Airtel's DTH business has pan India operations with 7.9 mn customers. It is expecting a valuation of about Rs 5,500 crores. Market leader and the only listed company in the space, Dish TV has a subscriber base of close to 15 million subscribers. Market cap of Dish TV is over Rs 7,500 cr.
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