Bharti Infratel to explore acquisition of Indus Towers
Indus Towers, a joint venture between Bharti Airtel, Vodafone and Idea Cellular, has portfolio of around 1.23 lakh mobile towers across 15 states in the country.business Updated: Oct 30, 2017 19:09 IST
Mobile tower firm Bharti Infratel on Monday said it will explore options to acquire country’s largest telecom infrastructure firm Indus Towers.
“The board of directors of Bharti Infratel Limited, in their meeting held on October 30, 2017, has decided to explore and evaluate acquisition of stake in one or more tranches in Indus Towers Limited with the aim of making it a subsidiary or wholly owned subsidiary of Bharti Infratel Limited,” the mobile tower firm said in a statement.
Indus Towers, a joint venture between Bharti Airtel, Vodafone and Idea Cellular, has portfolio of around 1.23 lakh mobile towers across 15 states in the country.
Bharti Infratel has consolidated portfolio of over 90,000 telecom towers, which includes over 39,000 of its own towers and the balance from its 42% equity interest in Indus Towers.
The three leading wireless telecommunications service providers in India by revenue - Bharti Airtel, Vodafone and Idea Cellular - are the largest customers of Bharti Infratel and for Indus Towers too.