Bharti Airtel, Idea Cellular and Vodafone plan tower holding company
Gaurie Dwivedi, ET Now Sep 20, 2011, 04.33am IST
Tags:
Vodafone|Indus Towers
In a development that could see the big boys of GSM club -- Bharti Airtel, Idea Cellular and Vodafone -- collectively monetise their tower assets, the three telcos are working on creating a holding company structure that is likely to house all the passive infrastructure owned by the three telcos, said an executive familiar with the development.
The proposed holding company is likely to have four subsidiaries -- Bharti Infratel, Indus Towers and the tower assets of Vodafone and Idea cellular outside the Indus Towers joint venture. The shareholding pattern of the proposed holding company will be in the ratio of the towers owned by the three telcos.
An industry source said that the proposed holding company structure, which will see a consolidation of the tower assets of the three telecom companies, is a step towards a possible listing of the new entity. Spokespersons for Bharti and Vodafone declined to comment on the development and an email sent to Idea Cellular on Saturday went unanswered at the time of going to press.
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