Idea looking to offload towers

26 May 2015

India’s third largest mobile provider by subscribers, Idea Cellular is working on an INR75.8 billion (USD1.19 billion) deal to offload its telecom towers, the Economic Times writes, citing sources directly briefed on the matter. Bharti Infratel, Axiata and American Tower Corporation (ATC) are reportedly interested in acquiring the operator’s roughly 11,000 towers. Infratel and ATC currently operate around 35,000 and 13,000 towers in India respectively, whilst Axiata, a minor shareholder in Idea, has previously approached Idea regarding the purchase of its towers as part of plans to consolidate its tower assets in Asian markets where it operates.