Bharti Hexacom on Wednesday said that it has put the sale of its infrastructure business to Indus Towers in abeyance. In February, Indus Towers announced that it would acquire the mobile sites of Bharti Airtel Limited and Bharti Hexacom Limited for Rs 3,308.7 crore. The transaction is now on hold.
Also Read: Indus to Acquire Telecom Towers of Bharti Airtel and Hexacom for Rs 3,308.7 Crore
TCIL's Role and Request for a Fresh Process
Bharti Hexacom, in a regulatory filing on April 9, 2025, said, "Telecommunications Consultants India Limited (TCIL), a public sector undertaking and a significant shareholder of Bharti Hexacom, has requested the Company to start a fresh process, which meets the requirements of TCIL as a Public Sector Undertaking."
"The management and the Board of Bharti Hexacom remain convinced about the business logic and merit of the proposal, however in keeping with the highest standards of corporate governance and transparency, it has been agreed to put the current proposal in abeyance and undertake a fresh exercise in consultation with TCIL. Any further development in this regard will be duly informed to all the stakeholders," the statement further added.
Also Read: Indus Towers Reports Rs 4,003 Crore Profit in Q3, Enters EV Charging Market
Transaction Details of Tower Transfer
As previously reported, the boards of Bharti Airtel and Bharti Hexacom have approved the sale/transfer of approximately 12,700 telecom towers and 3,400 telecom towers for Rs 2,147.6 crore and Rs 1,134 crore, respectively. The deal excludes the transfer of sites installed under Universal Service Obligation Fund (USOF) projects.
Also Read: Pace of 5G BTS Deployments Slowed Down: Indus Towers
Indus Towers' Position
Indus Towers, in a regulatory filing on April 9, 2025, also said, "Intimation received from Bharti Hexacom which has also been communicated by them to the stock exchanges, the sale/transfer of passive infrastructure business undertaking by Bharti Hexacom to the company has been kept in abeyance. Any further development in this regard will be duly informed to the stakeholders."
Indus Towers also informed that it has executed the transaction for the purchase of passive infrastructure business undertaking from Bharti Airtel.
Indus Towers has a pan-India presence with 234,643 towers and 386,819 co-locations as of December 31, 2024. Both Indus Towers and Bharti Hexacom are subsidiaries of Bharti Airtel.
