AZB & Partners has advised Indian telecom operator Bharti Airtel on the acquisition of a 20 percent stake in its direct-to-home (DTH) television arm for $430 million from Lion Meadow Investment, an affiliate of U.S. private equity company Warburg Pincus.

In 2017, Lion Meadow had bought the stake in Airtel’s DTH arm for $350 million.

According to Reuters, Bharti Airtel’s core telecom business in India has come under pressure since Reliance Jio entered the space with cut-price tariffs, pushing players such as Airtel to focus on digital services.

The AZB team was led by partners Gautam Saha and Swati Chauhan.

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