₹245.05 2.2 0.9%
Last Trade - 13/04/21
Market Cap | £6.41bn |
Enterprise Value | £6.49bn |
Revenue | £887.6m |
Position in Universe | 64th / 3106 |
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;))