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Telecom Italia shuffles stake in Bharti Telenet

Because of the restructuring, Telecom Italia's holding in the company will come down marginally.

The foreign operator's holding is at present routed through Stet Italy (22 per

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cent) and Stet Netherlands (11 per cent).

The company has now proposed that the holdings be held by Indian Telecom Holdings BV, Netherlands (19.2 per cent) and Stet Netherlands (11 per cent), both wholly owned by the Telecom Italia group.

With the restructuring, Telecom Italia's stake in Bharti Telenet will come down to 30.2 per cent. The 2.8 per cent will then be transferred to Bharti Telecom, whose stake in Bharti Telenet will increase from 16 per cent to 18.8 per cent.

Bharti Televentures, whose stake remains unchanged at 51 per cent, holds the remaining equity.

A Bharti Enterprises spokesperson said the change is part of Telecom Italia's international restructuring.

- Compiled from the Indian media

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