Bharti Infratel-Indus Towers merger may soon get completed

NEW DELHI: The proposed merger of Bharti Infratel and Indus Towers is likely to be completed after all sides agreed to change the contours of the deal.

The principal shareholders, Bharti Group and Vodafone, have opted for a share-swap arrangement instead of the original plan, under which Bharti Infratel would acquire Vodafone Idea’s entire 11.15% stake in Indus Towers for about Rs 4,500 crore in cash, two people familiar with the development told ET.

Under the new plan, which was one of the options in the scheme of arrangement, Vodafone Idea and Providence Equity Partners, an investor in Indus Towers, will be issued fresh shares in the merged entity.