202225 Feb

India's Bharti Airtel to buy 4.7% stake in Indus Towers from Vodafone

Summary

A Bharti Airtel advertisement board is installed against the backdrop of companys telecommunication tower in the southern Indian city of Kochi November 30, 2012. The deal is on the condition that proceeds from the sale would be infused back into Vodafone Idea Ltd (VODA.NS), Airtel said. Indias telecoms market, one of the worlds biggest, was upended by Reliance Industries (RELI.NS) Jio Infocomm, which launched with free voice and cut-price data in late 2016. This forced several rivals out of the market while others such as the local unit of Vodafone and Indias Idea Cellular merged. Reporting by Rama Venkat in Bengaluru; Editing by Krishna Chandra Eluri and Sriraj Kalluvila

Source: Reuters

Funding

$318.16M
Amount
Feb 25 2022
Date
-
Investor
Indus Towers
Company

Classifications

Companies