Telecom operators Bharti Airtel and Vodafone Idea have reportedly signed a share purchase agreement with iBus Network and Infrastructure Pvt Ltd after transferring their entire stake in the joint venture, Firefly Networks Ltd. According to an exchange filing report cited by The Economic Times, both telecom companies currently hold a 50% stake in Firefly Networks.

iBus Network

The stake will be sold to iBus Network for a total cash consideration of ₹4.5 crore. This deal is expected to be completed within 30 business days from the date of agreement execution between the parties.

Firefly Networks, which was initially a joint venture between Bharti Airtel and Vodafone Idea, will no longer remain under their ownership. This strategic move may signal a shift in the priorities of the telecom giants as they streamline their operations and focus on core areas of their business.

In-building Connectivity Solutions

iBus Network, known for its expertise in providing in-building connectivity solutions, could leverage Firefly Networks’ infrastructure to enhance its offerings. This acquisition may help iBus strengthen its position in the telecom infrastructure market.

This development comes as the telecom sector in India witnesses rapid evolution, with operators increasingly exploring new revenue streams and partnerships. The divestment of Firefly Networks reflects the ongoing consolidation and reorganization within the industry to align with the changing market dynamics. 

India’s Relecom Infrastructure Space

The completion of this transaction will mark a significant step in redefining ownership and operational strategies within India’s telecom infrastructure space. According to the filing, this transaction is not classified as a related party transaction and is subject to the fulfillment of closing conditions.  

Telecom operators Bharti Airtel and Vodafone Idea have signed share purchase agreements with iBus Network and Infrastructure Pvt Ltd after transferring their entire stake in joint venture Firefly Networks Ltd. According to exchange filing reports cited by Economic Times, both telcos currently hold a 50% stake in Firefly Networks.