Airtel Plans to Sell Majority Stake in Bharti Infratel
It was lately reported that telecom operator Bharti Airtel is looking at options to sell out its majority stake in tower company Bharti Infratel. The India based telecom operator has 58 percent stake in Bharti Infratel. Airtel has in the recent past, received enquiries from some global investors for acquiring stake in Bharti Infratel. However, the identity of these investors has not been revealed by the operator.
Airtel’s Evaluation
At a meeting held on 25 October 2016, Airtel’s Board of Directors evaluated on the selling of stake in Bharti Infratel. The company has recently sold out 13.96 percent stake in the Indian telecom tower company via market transactions to QIPs and a group of Private Equity Investors.
In a statement, the telecom company mentioned that it has not entered into an agreement with reference to any such proposal or discussion and there is no surety of a transaction until such time the Board approves a final proposal. On October 30, Bharti Infratel decided to evaluate the acquisition of one or more tranches in Indus towers. This move will be aimed to make it a wholly owned subsidiary or subsidiary.
About Bharti Airtel
Bharti Airtel Limited is an Indian global telecommunications company that operates in 18 countries across South Asia and Africa. The telecom operator provides 3G and 4G LTE mobile services, fixed line broadband and voice services. Across five cities in India, Airtel is planning to roll out VoLTE technology in the coming days. Bharti Infratel is a telecom tower company that has installed around 3 MWT of solar capacity on their network thereby generating more than 5 million units of electricity per year.
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