comscore Airtel to sell 5 pc stake in Infratel for upto Rs 4,000 crore
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Airtel to sell 5 pc stake in Infratel for upto Rs 4,000 crore

Airtel will be selling 5 percent stake in its tower unit Infratel through an open market trade deal to raise about Rs 3,500 crore to Rs 4,000 crore.

  • Updated: April 21, 2016 9:19 AM IST
bharti-airtel-business

Country’s top operator Bharti Airtel is looking to sell 5 per cent stake in its tower unit Infratel through an open market trade deal to raise about Rs 3,500 crore to Rs 4,000 crore. Airtel has 71.70 percent stake in Infratel. The company plans to sell 5 percent stake in Infratel, proceeds of which are likely to be used to cut debt, sources said. Also Read - Fake WhatsApp message claims free internet for three months, don't fall for it

Also Read - Prepaid to postpaid and vice versa with OTP: Operators propose simple conversion process

Also Read - Airtel introduces offers with more data and benefits during the pandemic

They, however, did not give any timeline for the stake sale. The net debt of Airtel stood at Rs 78,816 crore at the end of December 2015. Ahead of the launch of Reliance Jio Infocomm, Airtel is aggressively expanding its 4G footprint. The company has already acquired 4G spectrum from Aircel and Videocon to become a pan-India player in the high-speed data services market.

Airtel has acquired rights to use 4G spectrum of Aircel in eight telecom circles for Rs 3,500 crore, while the deal for spectrum in six circles with Videocon Telecommunication stood at Rs 4,428 crore.

ALSO READ: Reliance Jio launch unlikely to hurt Airtel s revenue share: Report

Telecom operators are consolidating their positions by loading up on spectrum ahead of Reliance Industries’ much talked about fourth-generation wireless services to be launched this year

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  • Published Date: April 21, 2016 9:15 AM IST
  • Updated Date: April 21, 2016 9:19 AM IST



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