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INDUSTOWER - Indus Towers News Story

₹259.6 8.1  3.2%

Last Trade - 16/04/21

Sector
Telecoms
Size
Large Cap
Market Cap £6.79bn
Enterprise Value £6.87bn
Revenue £887.7m
Position in Universe 61st / 3109

BUZZ-India's Bharti Infratel jumps on Indus Tower merger completion

Fri 20th November, 2020 8:22am
** Shares of telecom infra firm  BHRI.NS  rise ~15% to
213.65 rupees, their highest since Sept. 10
    ** BHRI's long-delayed merger with Indus Towers has
completed, the company said in a filing https://www.bseindia.com/xml-data/corpfiling/AttachLive/a3d82129-90eb-489c-b35b-9bfc48da361e.pdf
 after market hours on Thursday 
    ** Under deal, Vodafone Idea  VODA.NS  sold its 11.15% stake
in Indus to BHRI for 37.6 bln rupees ($507.50 mln)
    ** Bharti Infratel had announced the deal with Indus Towers
in 2018 to form a $14.6-bln telecom tower giant  urn:newsml:reuters.com:*:nL4N2FY15K
    ** BHRI stock marks sharpest intraday pct rise since March
20, while VODA shares rise as much as 4.9%
    ** Around 43 mln BHRI shares change hands by 0807 GMT, vs
30-day avg of 7.5 mln shares
    ** BHRI down ~26% this year up to last close, vs a ~50% rise
in VODA shares

($1 = 74.0890 Indian rupees)

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))
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