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| Exchange Received Time 15/03/2017 21:23:53 Exchange Disseminated Time 15/03/2017 21:24:04 Time Taken 00:00:11 | | Dear Sir / Madam, This has reference to our previous intimation dt. October 25, 2016 inter-alia informing that the Board of Directors of the Company ('the Board') has authorized a Committee of Directors ('COD') to evaluate options for monetization of a significant stake in Bharti Infratel Limited ('Infratel'), in accordance with applicable regulations. We now wish to further update you that the Board has at its meeting held on March 14, 2017, on the recommendation of the COD, decided not to monetize a controlling stake in Infratel for now. Instead the Board has decided that the Company undertake a sale / transfer of upto 400 million Infratel equity shares owned by the Company which is over and above a controlling stake in Infratel, in such tranche(s), at such time(s) and for such consideration as may be deemed fit to its wholly-owned subsidiary, Nettle Infrastructure Investments Limited (Nettle) and/or to any other potential investor(s) (collectively 'the Transfer(s)'). |
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