<p>Indian telecom operator Bharti Airtel Ltd said on Friday it would buy a 4.7 per cent stake in cell tower firm Indus Towers Ltd from Vodafone Group Plc.</p>.<p>The British telecoms group said earlier this week it was looking to sell its entire 28.1 per cent stake in Indus Towers, India's largest cell tower company.</p>.<p>Airtel did not disclose the deal value but said it was "protected with a capped price, which is lower than the price for the block of Indus shares sold by Vodafone (Group)."</p>.<p>The deal is on the condition that proceeds from the sale would be infused back into Vodafone Idea Ltd, Airtel said.</p>.<p>India's telecoms market, one of the world's biggest, was upended by Reliance Industries' Jio Infocomm, which launched with free voice and cut-price data in late 2016.</p>.<p>This forced several rivals out of the market while others such as the local unit of Vodafone and India's Idea Cellular merged.</p>.<p>Debt-laden Vodafone Idea has paid the government Rs 7,854 crore in dues, but still owes roughly Rs 50,000 crore.</p>.<p>Shares of Indus Towers closed 4.2 per cent higher at 214.60 rupees on Friday. The news was announced after markets closed.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>Indian telecom operator Bharti Airtel Ltd said on Friday it would buy a 4.7 per cent stake in cell tower firm Indus Towers Ltd from Vodafone Group Plc.</p>.<p>The British telecoms group said earlier this week it was looking to sell its entire 28.1 per cent stake in Indus Towers, India's largest cell tower company.</p>.<p>Airtel did not disclose the deal value but said it was "protected with a capped price, which is lower than the price for the block of Indus shares sold by Vodafone (Group)."</p>.<p>The deal is on the condition that proceeds from the sale would be infused back into Vodafone Idea Ltd, Airtel said.</p>.<p>India's telecoms market, one of the world's biggest, was upended by Reliance Industries' Jio Infocomm, which launched with free voice and cut-price data in late 2016.</p>.<p>This forced several rivals out of the market while others such as the local unit of Vodafone and India's Idea Cellular merged.</p>.<p>Debt-laden Vodafone Idea has paid the government Rs 7,854 crore in dues, but still owes roughly Rs 50,000 crore.</p>.<p>Shares of Indus Towers closed 4.2 per cent higher at 214.60 rupees on Friday. The news was announced after markets closed.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>