Vodafone and Idea have merged their mobile businesses and scheme becoming effective from August 31, 2018.
Shares of Bharti Infratel touched 52-week low of Rs 266, down nearly 2 percent intraday Thursday as its consolidated revenue to reduce by Rs 780 crore per annum from the merger of Vodafone-Idea.
On completion of Vodafone-Idea merger Bharti Infratel and Indus Towers, where the company holds 42% equity, have received exit notices, which would result in exit of 27,447 co-locations for the company on a consolidated basis.
"The aforesaid co-locations contribute to 13.7 percent of the total co-locations basis as on June 30, 2018. This is likely to result in a net reduction of consolidated service revenue of approximately Rs 60-65 crore per month with effect from September 1, 2018," company said in BSE filing.
Vodafone and Idea have merged their mobile businesses and scheme becoming effective from August 31, 2018.
At 12:12 hrs Bharti Infratel was quoting at Rs 269.75, down Rs 1.55, or 0.57 percent on the BSE.
Posted by Rakesh Patil