Bharti Infratel to go ahead with Indus Towers merger

BENGALURU:

Bharti Infratel Ltd

will go ahead with its long-delayed merger with

Indus Towers

, the telecom infrastructure firm said on Tuesday.


Infratel will be a majority shareholder in the merged entity with a likely stake of 68.6%, while London-listed

Vodafone Group Plc

will hold 28.2%, the company said in a regulatory filing.

Vodafone Idea Ltd

will cash out its 11.15% stake for an approximated Rs 4,000 crore ($546.05 million), Infratel said.

Bharti Infratel had announced the deal with Indus Towers in 2018 to form a $14.6-billion telecom tower giant.