Bharti Infratel drops 2% on merger with Indus Towers

bharatinfratel

Bharti Infratel dropped 2% on Wednesday following the announcement of its merger with Indus Towers. The merged entity will see Bharti Airtel and Vodafone each holding around 33%.
Kumar Mangalam Birla-led Idea Cellular and private equity fund Providence, which jointly hold 16% in Indus Towers, will exit through a cash payout. The merged entity will change its name to Indus Towers Limited and stay listed on stock exchanges.

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