Indian telecom merger to create one of world’s biggest tower firms

May 18, 2018

India’s Bharti Infratel has agreed to merge with Indus Towers, in a deal that creates the world’s second-biggest telecom tower company with an estimated equity value of $14.6 billion. Seeking to capitalise on rapid growth in smartphone usage in the country, the transaction, which values Indus Towers at about $10bn, will create an infrastructure giant with more than 163,000 towers, lagging only China Tower.
Top Indian telecoms carrier Bharti Airtel, the majority owner of Bharti Infratel, will be the biggest shareholder in the combined company followed by Vodafone Group, the companies said in a joint statement. Indus’ two other main shareholders, Idea Cellular and Providence Equity Partners, will have an option to cash out. Source

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