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INDUSTOWER - Indus Towers News Story

₹245.05 2.2  0.9%

Last Trade - 11:11am

Sector
Telecoms
Size
Large Cap
Market Cap £6.39bn
Enterprise Value £6.47bn
Revenue £892.8m
Position in Universe 62nd / 3106

BUZZ-India's Bharti Infratel up 5% on plan to go ahead with Indus Towers merger

Tue 1st September, 2020 5:13am
** Shares of telecom infrastructure co  BHRI.NS  rise as
much as 5.2% to 208.80 rupees
    ** Co on Tuesday said it will go ahead with its long-delayed
merger with Indus Towers  urn:newsml:reuters.com:*:nL4N2FY15K
    ** Bharti Infratel had announced the deal with Indus Towers
in 2018 to form a $14.6-billion telecom tower giant
    ** Shares of Vodafone Idea Ltd  VODA.NS  rise as much as
7.35% after BHRI said VODA will cash out its 11.15% stake in
merged entity for about 40 bln rupees ($546.05 million)
    ** About 2.6 mln BHRI shares change hands vs 30-day avg of
6.7 mln shares
    ** BHRI shares are down 21.4% so far this year, as of last
close, while VODA shares are up 66%

    
($1 = 73.2540 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
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