Bharti Infratel now said to be hesitant on Indus Towers deal

New Delhi: Bharti InfratelNSE 0.09 % is said to be hesitant about going ahead with a plan involving a merger with Indus Towers and a buyout of 7 per cent equity stake from Vodafone IdeaNSE -5.00 % in the resultant entity. While almost all clearances have been obtained, the company has sought to extend the process by another two months.

People with knowledge of the matter said the reason is uncertainty over the survival of a cash-strapped Vodafone Idea, which is facing adjusted gross revenue (AGR) dues of around Rs 57,000 crore, and the changed industry scenario.

Majority owned by Bharti Airtel, Bharti Infratel is awaiting the outcome of the next hearing in the Supreme Court on the AGR issue on March 17 that will take stock of payments by telecom operators including Vodafone Idea.