New Delhi,
\nBharti Airtel has approved to merge Indus Towers into Bharti Infratel to create the largest mobile tower entities worldwide with 1.63 lakh towers across 22 circles in India, a company statement said here on Wednesday.<\/p>\n
The combined company will own 100 per cent of Indus Towers, it said.<\/p>\n
The combined company, which will fully own the respective businesses of Bharti Infratel and Indus Towers, will change its name to Indus Towers Limited and will continue to be listed on the Indian Stock Exchanges.<\/p>\n
\u201cTaken together, Bharti Infratel and Indus Towers had over 163,000 towers and 367,000 tenancies as on March 31, 2018. With over Rs 253 billion ($3.8 billion) in revenues .<\/p>\n
\u201cThe combined company will be well placed to invest on a national basis to satisfy the future demand from all telecoms operators in India as they continue to densify their networks to support sustained data traffic growth and roll out new network technologies,\u201d the company statement said.<\/p>\n
\u201cIndus Towers currently operates in 15 telecom service areas (Circles) and Bharti Infratel\u2019s operations are focused on the remaining seven Circles.<\/p>\n
\u201cThe combination of Bharti Infratel and Indus Towers, with their highly complementary footprints, will create a pan-India tower company with the ability to offer high quality passive infrastructure services to all operators on a non-discriminatory basis, needed to support the pan-India expansion of wireless broadband services using 4G\/4G+\/5G technologies,\u201d it added.<\/p>\n
Bharti Airtel and Vodafone will have equal rights in the combined company. They have entered into a shareholders\u2019 agreement and it is expected that the combined company\u2019s articles of association will be amended at completion to reflect some of these rights.<\/p>\n
\u201cFollowing completion, the Board of the combined company will comprise of 11 directors, of whom three will be appointed by each of Bharti Airtel and Vodafone, one will be appointed by KKR\/Canada Pension Plan Investment Board and four (including the Chairman) will be independent.<\/p>\n
\u201cThe management team will be confirmed prior to closing,\u201d the statement clarified.<\/p>\n
The transaction is subject to approvals from the relevant regulatory authorities, including from Competition Commission of India, Securities and Exchange Board of India, National Company Law Tribunal, Department of Telecommunications (FDI approval), approval from Bharti Infratel\u2019s shareholders, necessary corporate approvals from the companies involved, as well as closing conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi, Bharti Airtel has approved to merge Indus Towers into Bharti Infratel to create the largest mobile tower entities worldwide with 1.63 lakh towers across 22 circles in India, a company statement said here on Wednesday. The combined company will own 100 per cent of Indus Towers, it said. The combined company, which will […]<\/p>\n","protected":false},"author":1,"featured_media":29101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-29100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/29100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=29100"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/29100\/revisions"}],"predecessor-version":[{"id":29102,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/29100\/revisions\/29102"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/29101"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=29100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=29100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=29100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}