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Bharti Infratel To Go Ahead With Indus Towers Merger

Bharti Infratel To Go Ahead With Indus Towers Merger

Bharti Infratel Ltd will go ahead with its longdelayed merger with Indus Towers, the telecom infrastructure firm said on Tuesday.

BENGALURU: Bharti Infratel Ltd will go ahead with its long-delayed merger with Indus Towers, the telecom infrastructure firm said on Tuesday.

Infratel will be a majority shareholder in the merged entity with a likely stake of 68.6%, while London-listed Vodafone Group Plc will hold 28.2%, the company said in a regulatory filing.

Vodafone Idea Ltd will cash out its 11.15% stake for an approximated 40 billion rupees ($546.05 million), Infratel said.

Bharti Infratel had announced the deal with Indus Towers in 2018 to form a $14.6-billion telecom tower giant.

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