Bharti Airtel is planning to sell the mobile phone towers of its African operations to Bharti Infratel. This will help the operator raise funds. The estimated value of the deal is pegged at Rs 120-Rs 150 billion and is expected to come through by December 2010.
Meanwhile Bharti Infratel in turn, is planning to raise $2 billion by divesting 20 per cent stake to private equity and sovereign funds. Among those in discussions are GIC of Singapore, Temasek and Kohlberg Kravis Roberts & Co (KKR).
In a statement, Bharti Enterprises, the parent company of the Bharti group, said that strategically it is in favour of separating passive infrastructure such as towers and sharing it with other operators in Africa on the same lines as in India. “However, there is no firm decision on it yet”? the statement read.
