This is an Airtel strategy . Tower,Fiber and Small cells are the main story as carriers roll out 5G from here on. Millimeter wavelength does requires incremental macro and micro passive infra for coverage . The more say you have on Tower company the better you can plan your network rollout . specially only 2 large size Telecom player left out in India. Infra co-location factor is getting down (For Indus at around 1.8) day by day ,tower business is becoming very less attractive in India. Simple fact , in US and Europe tower companies enjoys good escalation (mid single digit) on rent. In india its mostly flat with Govt trying to bailout industry rent escalation creeping up at couple of %. Airtel is increasing its stake in Indus on every opportunity. Story is different in Europe , Telecom companies hiving tower asset to spend fund on 5G rollout and becoming more nimble in operation.
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