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Bharti Infratel extends rally on talk of tower deal; stock hits 52-wk high

The stock hit a 52-week high of Rs 434, up 6%, extending its Wednesday's 3% gain on the NSE.

SI Reporter  |  Mumbai 

Bharti Infratel awaits 4G boost

hit a 52-week high of Rs 434, up 6%, extending its Wednesday’s 3% gain on the National Stock Exchange (NSE), after media report suggests that private equity firm KKR-led consortium in talks to buy Indus Towers and

The trading volumes on the counter more than doubled with a combined 4.1 million shares exchanging hands on the NSE and BSE till 11:13 AM.

in the ordinary course of business evaluates various opportunities from time to time, the company said on clarification on new report.

However, the company, as a matter of policy, does not comment on speculative reports and therefore in case of the present item, does not wish to comment on it, it added.

Indus Towers is a three-way joint venture wherein Bharti Airtel has 42%, Vodafone, too, has 42% and Idea Cellular has 11.15%, and the rest is with Providence Equity Partners.

As per people aware of the development, will plan to acquire all the stake of the remaining partners after which the KKR-led consortium will gradually increase its stake in Indus to become a majority stakeholder, the Business Standard report suggests. CLICK HERE TO READ FULL REPORT.

First Published: Thu, October 12 2017. 11:15 IST
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