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Bharti Infratel drops 2% on merger with Indus Towers




bharatinfratel
Bharti Infratel dropped 2% on Wednesday following the announcement of its merger with Indus Towers. The merged entity will see Bharti Airtel and Vodafone each holding around 33%.

Kumar Mangalam Birla-led Idea Cellular and private equity fund Providence, which jointly hold 16% in Indus Towers, will exit through a cash payout. The merged entity will change its name to Indus Towers Limited and stay listed on stock exchanges.

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This post first appeared on Stock Market News And Updates, please read the originial post: here

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Bharti Infratel drops 2% on merger with Indus Towers

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