The Competition Commission of India has approved the merger of Bharti Infratel and Indus Towers, two large telecom infrastructure providers, the Economic Times reports. After combing, the resultant entity will be one of the largest owners of telecom towers in the world, with around 1.63 lakh towers. The companies together may be valued at $14.6 billion, the ET report says. Bharti Infratel is owned by Bharti Airtel, while Indus is independently managed. Indus already has Airtel as an owner, aside from Vodafone and Idea, who are themselves merging. American equity firm Providence also has a 4.85% stake in Indus. The post-merger entity will be named Indus Towers. What next The merger will now need approvals from NCLT, SEBI, and the Department of Telecommunications. In the merged entity, Idea Group has the option to either sell its 11.15% shareholding in Indus Towers for nearly Rs 65 billion (just under $1bn) or get new shares in the combined company based on the merger ratio. Vodafone, which is another stakeholder in Indus Towers, will be issued with 783.1 million new shares in the combined company, in exchange for its 42% shareholding in Indus Towers. The transaction values Vodafone’s shareholding at Rs 284 billion ($4.3bn). Providence can choose to either receive cash or new shares in exchange for 3.35% stake. The remainder from the total 4.85% shareholding, will be exchanged for shares. Bharti Airtel’s shareholding will be diluted from 53.5% in Bharti Infratel today to 37.2% in the combined company. Bharti Airtel and Vodafone…
- Indian crypto exchanges plan to collect identity details for crypto transfers to private wallets: Report June 3, 2023
- Jugalbandi, A Chatbot for Rural India by Microsoft and EkStep: What to Know and Think About? June 3, 2023
- Hopeful to See Action Against E-Pharmacies Selling Medicines Online Without Licenses: Pharmacy Body Writes to States and UTs June 3, 2023
- Meta to give advertisers more control using AI and content filters June 2, 2023
- Transparency Report: Here’s all Facebook, Instagram, Twitter and Google had to say about user complaints in April June 2, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Is it safe to consider all "publicly available data" as public?
PhonePe launched an e-commerce buyer app for ONDC called Pincode. We, however, believe that it should also launch a seller app.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...