News
Indian mobile operator reportedly looking to offload 11,000 towers for $1 billion.
Fresh rumours that Idea Cellular plans to sell its towers unit emerged this week.
Sources cited by CNBC-TV18 on Tuesday claim that the Indian operator is keen to offload 100% of the business, which includes 11,000 mobile towers, for $1 billion (€941 million).
According to the report, Idea has reached out to several potential suitors, including American Tower, Bharti Infratel, and asset manager Brookfield, which recently agreed to buy a majority stake in Reliance Communications’ tower business, Reliance Infratel, for 110 billion rupees (€1.5 billion).
Similar rumours regarding Idea and its towers business have routinely cropped up in recent years, with the same names being mentioned on multiple occasions as possible buyers.
Reports in May 2015 claimed three suitors were eyeing the assets: American Tower, Bharti Infratel, and Malaysia-based Axiata.
Earlier reports in November 2014 alleged that Idea was approached about its towers unit by Bharti Infratel, and Vodafone India.
Meanwhile, Idea was said to have received interest in its towers from Axiata on two further occasions, once in 2012 and again in 2013.
