)
Don't want to miss the best from Business Standard?
Shares of Bharti Infratel were up over 3% at Rs 469 on reports that the company is in talks with major mobile service providers to acquire their telecom towers.
Cash-rich Bharti Infratel is in advanced talks with British telecom major Vodafone and the Aditya Birla Group's Idea Cellular to buy out their telecom towers at a valuation of up to $1.6 billion (Rs 10,080 crore), according to a Business Standard report citing sources.
The acquisition is attractive as Vodafone's tenancy ratio is around 1.5 in towers in Madhya Pradesh, Assam, the northeast, Jammu & Kashmir, Himachal Pradesh and Bihar. Idea's tenancy ratio is 1.6, the report added.CLICK HERE TO READ FULL REPORT
Make smarter market moves with The Smart Investor. Daily insights on buzzing stocks and actionable information to guide your investment decisions delivered to your inbox.
The stock opened at Rs 455 and touched a high of Rs 476. At 2:30PM, over 1.2 million shares were traded on both the stock exchanges.
