Indian telecoms tower company Indus Towers has completed the merger of the tower assets held by three local mobile operators.
In 2007, Bharti Airtel, Vodafone India and Idea Cellular formed a joint venture, Indus Towers, to reduce the costs of…
Indian telecoms tower company Indus Towers has completed the merger of the tower assets held by three local mobile operators.
In 2007, Bharti Airtel, Vodafone India and Idea Cellular formed a joint venture, Indus Towers, to reduce the costs of building, managing and sharing such infrastructure. Bharti and Vodafone both control 42% of the JV while Idea holds the remaining 16%.
The towerco did not provide details about the merger other than that it became effective on 11 June and that includes the tower units’ assets and liabilities.
A telecoms analyst described the move as mere formality, suggesting it would not have much impact on the industry.
However, an unnamed analyst cited by the Wall Street Journal noted the merger could allow the company to sale a stake in itself in order to raise funding. The proceeds could then be used by the telcos to cut debt and expand their telecoms services.
Indus claims to be the world’s largest tower company with almost 112,000 towers across India.
