Bharti Airtel, the largest Indian mobile network operator, has not decided yet whether it would list a stake in its tower arm, Bharti Infratel, its chairman Sunil Mittal was quoted saying.
In mid-July local newspapers had reported that Infratel was…
Bharti Airtel, the largest Indian mobile network operator, has not decided yet whether it would list a stake in its tower arm, Bharti Infratel, its chairman Sunil Mittal was quoted saying.
In mid-July local newspapers had reported that Infratel was mulling an IPO for a 10% stake in itself, which would allow it to raise up to Rs45bn (US$1bn).
This IPO, which could take place this autumn, would provide an exit to shareholders. In February 2008, US private equity firm KKR invested US$250m in Infratel in return for a 2% stake.
Before that, in December 2007, Singapore-based Temasek Holdings, The Investment Corporation of Dubai (ICD), Goldman Sachs, Macquarie, AIF Capital, Citigroup and India Equity Partners (IEP) had invested US$1bn for a 9% stake in Infratel.
The Economic Times wrote about two months ago, that Bharti Infratel had informally hired Standard Chartered and Morgan Stanley for the IPO, while two other banks may also have been appointed.
