Bharti Hexacom is reportedly expected to carry out a fresh valuation of its 3,400 telecom towers before inviting new bids from tower infrastructure firms. The Bharti Airtel subsidiary is likely to follow an open and transparent bidding process, adhering to guidelines set by the Department of Investment and Public Asset Management (Dipam) and regulations of the Securities and Exchange Board of India (Sebi).
The move comes after state-run Telecommunications Consultants India Ltd (TCIL), a key shareholder in Bharti Hexacom, raised objections to the proposed sale of tower assets to Indus Towers. TCIL demanded a revised process that aligned with its role as a government stakeholder.
The sale was also reportedly deferred due to disagreements between Bharti and TCIL regarding the Rs 3.3-million-per-tower valuation, which had been determined by global consulting firm Grant Thornton.
