Advertisement


Advertisement

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Breaking News : Airtel to sell 5% stake in Infratel for upto Rs 4,000 crore
Advertisement
#1
Country’s top operator Bharti Airtel is looking to sell 5 per cent stake in its tower unit Infratel through an open market trade deal to raise about Rs 3,500 crore to Rs 4,000 crore. Airtel has 71.70 per cent stake in Infratel. The company plans to sell 5 per cent stake in Infratel, proceeds of which are likely to be used to cut debt, sources said.

They, however, did not give any timeline for the stake sale. The net debt of Airtel stood at Rs 78,816 crore at the end of December 2015. Ahead of the launch of Reliance Jio Infocomm, Airtel is aggressively expanding its 4G footprint. The company has already acquired 4G spectrum from Aircel and Videocon to become a pan-India player in the high-speed data services market.
Airtel has acquired rights to use 4G spectrum of Aircel in eight telecom circles for Rs 3,500 crore, while the deal for spectrum in six circles with Videocon Telecommunication stood at Rs 4,428 crore. Telecom operators are consolidating their positions by loading up on spectrum ahead of Reliance Industries’ much talked about fourth-generation wireless services to be launched this year.

http://www.india.com/business/airtel-to-...e-1123632/
Reply
Thanks given by:
Advertisement
Advertisement




Possibly Related Threads…
Thread Author Replies Views Last Post
  Update: Airtel, Vi get fresh spectrum, improvement in 4g network expected nairrk 0 55 03-03-2021, 09:23 AM
Last Post: nairrk
  General News: Airtel offers free Disney+ Hotstar subscription for 1 year: Here’s how to avail it nairrk 0 281 11-03-2020, 07:11 PM
Last Post: nairrk
  General News: Jio woes postpaid users of airtel, Vodafone Idea with new offer nairrk 0 878 10-11-2020, 01:52 PM
Last Post: nairrk
  General News: Airtel partners with PepsiCo to give up to 2GB of data to its customers nairrk 0 246 09-01-2020, 06:17 PM
Last Post: nairrk
  General News: Airtel now offers free data coupons on Rs 289, Rs 448 and Rs 599 prepaid plans nairrk 0 217 08-30-2020, 09:41 AM
Last Post: nairrk
  General News: Airtel users can subscribe to annual plans or queue multiple recharges... nairrk 0 185 08-28-2020, 09:31 AM
Last Post: nairrk
  General News: Airtel brings free Disney+ Hotstar VIP subscription to more prepaid plans.. nairrk 0 212 08-21-2020, 07:29 AM
Last Post: nairrk
  General News: Airtel Rs 129 and Rs 199 prepaid plans now available pan India nairrk 0 196 08-17-2020, 06:18 PM
Last Post: nairrk
  General News: Airtel offering free 1GB data to select inactive prepaid users nairrk 0 203 08-12-2020, 01:08 PM
Last Post: nairrk
  General News: Airtel launches Ultra-Fast 4G services in Andaman & Nicobar with new optic fibre Link nairrk 0 190 08-10-2020, 03:17 PM
Last Post: nairrk

Forum Jump:


Users browsing this thread: 1 Guest(s)
Advertisement