Bharti unit to merge with Indus, creating US$14.6 bil firm

MUMBAI (Apr 25): Bharti Airtel agreed to merge a unit with closely held Indus Towers in a deal that creates a US$14.6 billion ($19.4 billion) telecom tower operator that would be the largest outside China.

The combination with Bharti Infratel creates an entity controlling more than 163,000 towers across India, Airtel said in a statement Wednesday. Infratel said it agreed to pay 1,565 of its own shares for each Indus Tower share. In a separate filing, Airtel said it will “engage with potential investors for evaluating a strategic stake sale” in the new entity.

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