How much of a positive will this be for Indus Towers, if this happens?
“Bharti Airtel had bought 1 percent additional stake in Indus Towers in the transaction, taking its holding in the towers company to nearly 49 percent. The proposed additional stake acquisition would make Bharti Airtel the majority stakeholder in Indus Towers with a 52 percent shareholding.
Airtel plans to Indus Towers with its data centre business Nxtra, reported CNBC TV18. Further, Indus Towers cash would be used for Nxtra expansion, said the report. Airtel aims to make its telecom business asset light via Nextra and Indus Towers merger.
Consolidation of the majority shareholding in Indus Towers, and then merging it with the data centre business is apparently part of Bharti Airtel’s mega plan to of two-pronged strategy to capitalise on Indus Towers.
On the other hand, Vodafone is likely to use stake sale proceeds to pay dues to Indus Towers. A recent Reuters report had said that Vodafone Group was looking to sell its entire $2.3 billion stake in Indus Towers as part of a strategic move to pare its hefty debt.
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