Vodafone Idea expects 11.15% Indus Tower stake sale to complete in three-four months for Rs 5,500 crore
Under a contract signed with Bharti Infratel in April 2018, Vodafone Idea has an option to sell the 11.15 percent stake in Indus Tower for cash ahead of the merger
With the fresh transaction, Bharti Airtel's stake parked with Nettle Infrastructure has now increased to 19.94 percent from 3.18 percent earlier
Bharti Infratel Ltd said on Tuesday mobile carrier and its majority shareholder Bharti Airtel Ltd will lower its direct stake in the telecom tower company by more than a half
Bharti Infratel settles tower exits with 4 operators for about Rs 3,800 cr; third quarter records highest gross tower
Bharti Infratel chairman Akhil Gupta during the company's earnings call said that all the charges with Airtel, Tata, Telenor, Vodafone Idea have been settled for all exits that were received up to 30 November, 2018.
Bharti Infratel to take annual hit of Rs 780 cr from Vodafone-Idea exit; revenue impact to be mitigated by exit charges
Bharti Infratel and Vodafone own around 42 percent stake each in Indus Towers and rest of the stake is held by Aditya Birla group firm Idea Cellular.
Idea-Vodafone merger heralds new phase of tough competition in telecoms; bankers and content consumers may hold the key
In a sense, the Idea-Vodafone merger was a forced marriage of convenience because Jio hit the market when the UK-based giant was planning its own Indian IPO (initial public offering), and the merger was seen as a backdoor way for Vodafone to get listed
Vodafone said the service revenues, excluding the impact of the mobile termination rate cuts, declined by 9.6 per cent for the reporting quarter.
In April this year, Bharti Airtel, Idea Cellular and Vodafone Group had announced an agreement for the merger of Indus Towers and Bharti Infratel to create the largest mobile tower operator in the world outside China.
Bharti Airtel may face rating downgrade in 6-12 months if intense competition decreases its margins, says Moody's
Telecom major Bharti Airtel may face a rating downgrade in next 6-12 months if intense competition remains in the market and decreases its margins
The combination of Bharti Infratel with Indus Towers, announced on Wednesday, reflected the "fierce price competition" in the Indian telecom market that has prompted consolidation and incumbents to sell assets to raise funds, Fitch said
Bharti Airtel was the top gainer on Sensex and Nifty during the day
Airtel, Idea Cellular and Vodafone Group announced the merger of Indus Towers and Bharti Infratel to create a mobile tower juggernaut.
Indus Towers, Bharti Infratel to merge; new entity will be largest mobile tower operator outside China
Post the deal, Bharti Airtel and Vodafone will jointly control the combined company, and the transaction is expected to close before the end of 2018-19, subject to statutory approvals.
Post the transaction, Bharti Airtel and its wholly owned subsidiaries together have an equity holding of 53.51 percent in tower company Bharti Infratel
The sale was done for Rs 380.6 per share, a 4 percent discount to Monday's closing price.
However, the number of investments was lower by 41 percent compared to last year and 35 percent lower than the previous quarter
Telecom operator Bharti Airtel has shelved plans to sell controlling stake in its mobile tower arm Bharti Infratel but has decided to monetise 21.63% equity in the company.
InterGlobe Aviation has raised Rs 832 crore from anchor investors by allotting shares at the upper limit of price band at Rs 765 apiece.