Vodafone is in talks to sell shares of Indus Towers to Bharti Airtel
New Delhi:
According to industry sources, British telecommunications giant Vodafone is in discussions to sell around 5% of its stake in Indus Towers to Bharti Airtel.
When contacted, Vodafone declined to comment on the matter.
Vodafone currently holds about 28% stake in Indus Towers.
Industry sources say Vodafone is in talks to sell around 5% of its stake in Indus Towers, worth more than Rs 3,300 crore, to Bharti Airtel. They added that the proceeds will be injected into the Indian company Vodafone Idea.
Indus Towers Limited, formerly Bharti Infratel Limited, provides passive telecommunications infrastructure. It deploys, owns and manages telecom towers and communication structures for various mobile operators.
The company’s portfolio of over 1,84,748 telecommunications towers makes it one of the largest tower infrastructure providers in the country with a presence in all 22 telecom circles. Indus Towers caters to all wireless telecommunication service providers in India.
