Bharti Infratel Merger With Indus Towers Approved
24 February 2020 - 4:28PM
Dow Jones News
By Kosaku Narioka
Bharti Infratel Ltd. said Saturday it has received a
foreign-direct-investment approval from India's department of
telecommunications to merge with Indus Towers Ltd.
Bharti Infratel, an Indian telecom tower operator, owns a 42%
stake in Indus Towers. Vodafone Group PLC has another 42%, Indian
mobile company Vodafone Idea Ltd. holds 11% and American private
equity firm Providence Equity Partners controls the remaining
5%.
Bharti Infratel shares are down 0.2% after it rose in earlier
trade, while Vodafone Idea shares are down 0.5%.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
February 24, 2020 00:13 ET (05:13 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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