M&A

M&A

Bharti Hexacom to sell mobile tower for Rs.1,134-Cr to Indus Towers

Business Line  

Telecommunications company Bharti Hexacom is to sell mobile towers to its sister concern (Indus Towers) for INR 1,134 crore (USD 129.46 million). Previously, state-run Telecom Consultants of India (TCIL), which holds a 15% stake in the company, had opposed the deal, citing valuation issues.Founded in 1995, Bharti Hexacom provides mobile, fixed-line, and broadband services primarily in the Rajasthan and Northeastern telecommunication circles and operates under the Airtel Brand.