Bharti Infratel will merge its operations with Indus Towers, to create a USD 14.6 billion company which will be the largest mobile tower operator in the world, outside China with over 1,63,000 towers across 22 telecom service areas.

Bharti Group announcing the joint deal stated, “The combined company, which will fully own the respective businesses of Bharti Infratel and Indus Towers, will change its name to Indus Towers Limited and will continue to be listed on Indian Stock Exchanges.”

The combined company will own 100% of Indus Towers. Currently, Indus Towers is jointly owned by Bharti Infratel (42% holding), Vodafone (42%), Idea Group (11.15%) and Providence (4.85%).

Post deal Bharti Airtel and Vodafone will jointly control the combined company, and it is expected that the transaction will close before the end of 2018-19, subject to statutory approvals.

Furthermore, the transaction values Indus Towers at an enterprise value of Rs.71,500 crore, and the merger ratio is 1,565 shares of Bharti Infratel for every 1 Indus Towers share.

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