Bharti Infratel Looking to Expand Tower Operations in Asia
Published on: 15th Jun 2014
Note -- this news article is more than a year old.
The Indian tower operator, Bharti Infratel is looking at an option to buy more towers from its largest shareholder, Bharti Airtel.
Bharti Infratel is looking at possible purchases in Sri Lanka, Bangladesh, and possibly in India as well.
Bharti Infratel currently owns around 36k towers.
Bharti Airtel is said to be keen on a sale as it would help the company pay down its debt. However, as Bharti Infratel is a publicly listed company, any deal with its main shareholder would need to be very carefully justified to the other shareholders.
"Both Airtel and Infratel boards will have to be satisfied that it is a fair transaction." Bharti Infratel Chairman Akhil Gupta told the Economic Times newspaper.
He confirmed that they are not in the bidding to buy Bharti Airtel's towers in Africa, which are currently up for sale for around USD3 billion.