Indian telecom operator Bharti Airtel is considering options to sell its majority stake in tower company Bharti Infratel.
Airtel has 58 percent stake in Bharti Infratel.
Airtel said it has received enquiries from a few global investors to acquire a significant equity stake in Bharti Infratel. Airtel did not name the global investors.
Airtel’s Board at their meeting on 25 October 2016 constituted a Committee of Directors (COD) to evaluate selling stake in Bharti Infratel. Recently, Airtel has sold 13.96 percent stake in the Indian telecom tower company to a group of Private Equity Investors and to QIPs via market transactions.
Airtel said it has not entered into any agreements in relation to any such proposal or discussions and there is no certainty of any transaction until such time the Board reviews and approves a final proposal.
Bharti Infratel on 30 October 2017 decided to explore and evaluate acquisition of stake in one or more tranches in Indus Towers with the aim of making it a subsidiary or wholly owned subsidiary.
