Bharti Infratel announces merger with Indus Towers to create major tower firm

According to the latest reports, Bharti Airtel's tower subsidiary Bharti Infratel and Indus Towers have decided to merge their companies to create one entity. With a combined revenue of around Rs.25,360 crore, and 1.63 lakh towers across 22 telecom service areas of the country, this new pan-India tower company, which will be named Indus Towers Ltd, will easily become the world's largest tower company.


However, as per the reports, Bharti Airtel is planning a stake sale in the new tower company that will be formed after the merger. The company in a regulatory statement said, "The board has decided to engage with the potential investors for evaluating a strategic stake sale post the completion of the merger."


The merger between Bharti Infratel and Indus Towers is happening at a time when Bharti Airtel's tower arm registered 8-per cent annual growth in revenues to Rs.14,490 crore, while its net profit slipped by 9 per cent to Rs.2,494 crore.


The combined company, which will fully own the respective businesses of Bharti Infratel and Indus Towers, will continue to be listed on the Indian Stock Exchanges, the announcement said....Read More

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