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INDUSTOWER - Indus Towers News Story

₹245.05 2.2  0.9%

Last Trade - 13/04/21

Sector
Telecoms
Size
Large Cap
Market Cap £6.41bn
Enterprise Value £6.49bn
Revenue £887.6m
Position in Universe 64th / 3106

India's Bharti Infratel to go ahead with Indus Towers merger

Tue 1st September, 2020 4:45am
BENGALURU, Sept 1 (Reuters) - Bharti Infratel Ltd  BHRI.NS 
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  VOD.L  will hold 28.2%, the company said in a regulatory
filing https://www.bseindia.com/xml-data/corpfiling/AttachLive/15f8f6ad-3005-4001-99e0-e0438a818f8c.pdf.
    Vodafone Idea Ltd  VODA.NS  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.

($1 = 73.2540 Indian rupees)

 (Reporting by Chris Thomas in Bengaluru; editing by Uttaresh.V)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695;))
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