Bharti Airtel on Friday said it has entered into an agreement with Vodafone Group plc to acquire the latter’s 4.7 per cent stake in Indus Towers.

However, the Sunil Mittal- led firm has put forth a condition that the amount should be inducted by Vodafone as fresh equity in Vodafone Idea and simultaneously remitted to the tower firm to clear VIL’s outstanding dues.

Bharti Airtel holds 41.73 per cent in the country’s largest tower infrastructure provider. The announcement comes a day after the British telco sold 635,52,59 shares, or 2.4 per cent, of Indus Towers through a block deal on the NSE for Rs 226.84 apiece for almost Rs 1,442 crore.

Vodafone, which has joined hands with the Aditya Birla group in VIL, is looking to sell its entire 28 per cent stake in Indus Towers.

Bharti Airtel said in a regulatory filing post market hours that the telecom market structure has started to stabilise after the recent relief package was announced.

“We support the government’s desire to have three private operators to serve the Indian telecom market which is also in the best interest of Indus Towers. With the likely introduction of 5G in the future, we believe a lot more infrastructure would be required in which Indus Towers, an undisputed leader, has a significant role to play,’’ the company said.