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Bharti Infratel contemplates listing
Monday, 15 September 2008, 19:30 IST
New Delhi: Bharti Airtel's infrastructure arm, Bharti Infratel is planning to get listed to monetise its assets, a top company official said here Monday.
"We will look at listing of Bharti Infratel in two to three years," Bharti Enterprises Managing Director Akhil Gupta said. "This is basically to monetise out assets."
Gupta has recently been elevated as the deputy group CEO and Managing Director of Bharti Enterprises. He will take specific charge of the tower infrastructure business as the Vice-Chairman and Managing Director of Bharti Infratel.
Bharti Infratel has partnered Vodafone Essar and Idea Cellular to form Indus Towers , an independent tower company to provide passive infrastructure services in India.
Merging the passive infrastructure assets of the three companies across 16 telecom circles in India will involve setting up towers in 70,000 sites.
The 16 telecom circles include Andhra Pradesh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Kolkata, Maharashtra, Mumbai, Punjab, Rajasthan, Tamil Nadu, Chennai, Uttar Pradesh (East), Uttar Pradesh (West) and West Bengal.
Bharti Infratel will have to transfer approximately 30,000 towers to Indus Towers.
It will operate the passive infrastructure in the remaining seven circles of Assam, Bihar, Himachal Pradesh, Jammu and Kashmir, Madhya Pradesh, the North East and Orissa.
Bharti Infratel will be managed and run independently and will offer passive infrastructure services to all telecom operators and wireless service providers.
The company will own approximately 20,000 sites at inception.
Source: IANS
Source: IANS
