Bharti Airtel Exits Firefly Networks, Sells Stake to iBus Network

Bharti Airtel, India's largest telecom operator, has sold its 50% stake in Firefly Networks to iBus Network and Infrastructure for ₹9 crore. Firefly, a Wi-Fi infrastructure management company, was co-owned by Airtel and Vodafone Idea. The sale will enable Airtel to concentrate on its core business lines as iBus, a leader in in-building telecom solutions, will take over the operations of Firefly, including managing Wi-Fi hotspots in key urban locations. The deal is expected to be closed within 30 days.

 

Source: Devdiscourse