Bharti to buy 4.6% stake in Indus Towers

NEW DELHI: Bharti Infratel, a tower infrastructure company, will acquire an additional 4.62 per cent at market price in the Indus Towers after November 3. “The board of directors of Bharti Infratel, in their meeting held on October 30, 2017, has decided to explore and evaluate acquisition of stake in one or more tranches in Indus Towers Ltd with the aim of making it a subsidiary or wholly owned subsidiary of Bharti Infratel,” it said in a statement.

“Indian telecom has embraced the data-centric model and is emerging as the showcase of digital technology with operators rolling out 4G networks and India planning a leadership role on upcoming 5G technology and associated applications… As Bharti Infratel and Indus Towers, we are well positioned to grab our fair share of market and create sustainable value for all stakeholders,” said Akhil Gupta, chairman, Bharti Infratel.