Indus Towers May Merge With Bharti Infratel

Indus Towers Limited is planning to merge with Bharti Infratel, prior proposed listing of the latter.

If the deal materialsies, the merged entity will have around 155,000 towers.

Transaction Reference: Economic Times

Indus Towers was formed in 2007 by merging the tower units of Bharti, Vodafone and Idea in the 15 circles where the three firms had overlapping operations.

Bharti and Vodafone owns 42% stake each in Indus tower, while balance 16% is held by Idea Cellular. Currently, Indus Towers has more than 110,000 towers in 16 major telecom circles of India.

Bharti had spun of its standalone tower business into a separate subsidiary - Bharti Infratel and currently has over 30,000 towers, across 18 states and 11 telecom circles.

In March this year, India Telecom Infra Ltd decided to merge with New Silk Route (NSR) controlled Ascend Telecom Infrastructure Pvt Ltd to create an independent telecom tower operator with a nationwide footprint, with approximately 4,000 towers.

There has been considerable consolidation in the telecom tower space in the past two years. Some other deals in the telecom tower space.

Reliance Infratel was talking to GTL for the sale of it’'s 50,000 towers but the talks were called off over differentiation over valuation.

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