Bharti Infratel plans to acquire Indus Towers

Bharti Infratel, a subsidiary of Sunil Mittal-led Bharti Airtel, will explore acquiring an additional stake in Indus Towers, the company said on Monday. The deal, when completed, is expected to create India's largest mobile tower company.

“The board of directors of Bharti Infratel Ltd, in its meeting held on October 30, has decided to explore and evaluate the acquisition of a stake in one or more tranches in Indus Towers Ltd with the aim of making it a subsidiary or wholly owned subsidiary of Bharti Infratel Ltd,” the company said in a statement.

For the transaction to happen, Bharti, which already has