Jithin91
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Bharti Infratel aims to acquire Indus Towers to create telecom tower behemoth. To buy the stake it doesn’t own in Indus Towers from Vodafone India, Idea Cellular and a private equity firm
In a move that will create a giant in India’s telecom tower industry, Bharti Infratel Ltd on Monday said that it aims to buy the stake it doesn’t own in its Indus Towers Ltd unit from Vodafone India Ltd, Idea Cellular Ltd and a private equity firm. The company said that its board has decided to “explore and evaluate acquisition of stake in one or more tranches in Indus Towers Ltd with the aim of making it a subsidiary or wholly owned subsidiary of Bharti Infratel Ltd. Indus Towers is a joint venture between Vodafone India, Bharti Infratel and Idea Cellular. Vodafone and Bharti Infratel own 42% each while Idea owns 11.15%. US private equity firm Providence owns the balance 4.85%
Indus Towers is the world’s largest telecom tower operator with more than 123,000 towers and with Bharti Infratel’s 39,264 towers, its reach and strength will be unmatchable. Post acquisition, Bharti Infratel will control 40.8% of telecom towers in India. The move to acquire Indus Towers was anticipated in the wake of a merger between Vodafone India and Idea Cellular, which aims to create India’s largest telecom company.
Bharti Infratel aims to acquire Indus Towers to create telecom tower behemoth
In a move that will create a giant in India’s telecom tower industry, Bharti Infratel Ltd on Monday said that it aims to buy the stake it doesn’t own in its Indus Towers Ltd unit from Vodafone India Ltd, Idea Cellular Ltd and a private equity firm. The company said that its board has decided to “explore and evaluate acquisition of stake in one or more tranches in Indus Towers Ltd with the aim of making it a subsidiary or wholly owned subsidiary of Bharti Infratel Ltd. Indus Towers is a joint venture between Vodafone India, Bharti Infratel and Idea Cellular. Vodafone and Bharti Infratel own 42% each while Idea owns 11.15%. US private equity firm Providence owns the balance 4.85%
Indus Towers is the world’s largest telecom tower operator with more than 123,000 towers and with Bharti Infratel’s 39,264 towers, its reach and strength will be unmatchable. Post acquisition, Bharti Infratel will control 40.8% of telecom towers in India. The move to acquire Indus Towers was anticipated in the wake of a merger between Vodafone India and Idea Cellular, which aims to create India’s largest telecom company.
Bharti Infratel aims to acquire Indus Towers to create telecom tower behemoth
