Bharti Infratel to go ahead with Indus Towers merger

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.

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. Reuters