Bharti to hive-off cell towers biz, foray into DTH

The board of Bharti Airtel has approved hiving off its mobile communications towers business into a wholly-owned subsidiary, Bharti Infratel, as well as its foray into direct to home (DTH) services. The company also
announced the acquisition of a submarine network cable system from Network i2i (jointly owned by Singtel and a Bharti group firm) for an overall consideration of $110 million. 

According to an official release issued by the company to the BSE today, the board at its meeting held yesterday okayed, a scheme of transfer for the hive-off and its DTH foray through its wholly-owned subsidiary Bharti Telemedia.