Cellco Idea Cellular is considering selling 7500 towers that are not part of its tower JV with Bharti Infratel and Vodafone Essar, known as Indus Towers, according to the Times of India. Himanshu Kapania, deputy managing director at Idea, was quoted…
Cellco Idea Cellular is considering selling 7500 towers that are not part of its tower JV with Bharti Infratel and Vodafone Essar, known as Indus Towers, according to the Times of India.
Himanshu Kapania, deputy managing director at Idea, was quoted saying that such a deal could help unlock some value. The Times of India wrote the towers could fetch as much as US$1bn.
Banking sources were quoted saying that Idea will only sell its towers to an investor with no strategic interest in towers. Idea could not be reached for comment before the press deadline.
An IPO of Indus Towers, which is the largest tower company in India with 100,000 towers, could also have helped unlock some value. But recently, Akhil Gupta, deputy group chief executive and managing director of Bharti Enterprises, reportedly said that Indus Towers would not be listed soon, rejecting previous reports about the company’s plans.
