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1-min read

Bharti Airtel Begins Talks to Sell Stake In Merged Company of Bharti Infratel & Indus Towers

The final call on the stake sale will be taken after the Indus-Bharti merger, which awaits DoT’s nod due in September.

News18.com

Updated:September 17, 2019, 12:14 PM IST
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Bharti Airtel Jumps on Tata Mobile Unit Deal (Image: Reuters)
File photo of Airtel logo (Image: Reuters)

In a bid to sell stakes in the merged company of Bharti Infratel and Indus Towers, Bharti Airtel on Monday initiated fresh talks with potential bidders.

Sources aware of the development told CNBC-TV18 that ATC, Brookfield are the companies that have expressed their interest in the deal.

Bharti Infratel is expecting the potential transaction to fetch approximately USD 3.2-3.5 billion, sources said. The final call on the stake sale will be taken after the Indus-Bharti merger, which awaits DoT’s nod in September.

Reports earlier stated that Bharti Airtel and the Vodafone Group Plc are in talks with a consortium led by KKR, a private equity firm, in order to slash their stakes by over a half in the company. This will be created by the imminent merger of Bhart Infratel and Indus Towers.

A merger of this magnitude – among the world’s largest tower companies -- would mean a change in the management of the merged entity.

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