New Delhi: British telecom large Vodafone is in discussions to promote round 5 per cent stake in Indus Towers to Bharti Airtel, in accordance with business sources.
When contacted, Vodafone refused to touch upon the matter.
Vodafone at present holds about 28 per cent in Indus Towers.
The business sources mentioned that Vodafone is in talks to promote its about 5 per cent stake in Indus Towers, valued at over Rs 3,300 crore, to Bharti Airtel. The proceeds might be pumped into the Indian entity Vodafone Concept, they added.
Indus Towers Restricted, previously Bharti Infratel Restricted, supplies passive telecom infrastructure. It deploys, owns and manages telecom towers and communication constructions for varied cell operators.
The corporate’s portfolio of over 1,84,748 telecom towers makes it one of many largest tower infrastructure suppliers within the nation with presence in all 22 telecom circles. Indus Towers caters to all wi-fi telecommunication service suppliers in India.
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