Vodafone Announces Agreement to Merge Indus Towers and Bharti Infratel; No Change to FVE
Vodafone announced April 25 that Indus Towers, the Indian wireless tower company that it owns a 42% stake in, has agreed to merge with Bharti Infratel, another Indian wireless tower company. The two companies are in different regions in India and combined will have operations in all 22 circles. The combined company will own 163,162 wireless towers and will be the largest tower operator outside of China. The merger ratio is 1.565 shares of publicly traded Bharti Infratel for each Indus Towers sha...
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