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Announced

Completed

Bharti Airtel completed the acquisition of Indus Towers for $10.6bn.

Financials

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Transaction Value£7,629m
Consideration TypeOrdinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales3.8x
EV/EBITDA9.5x
Share Price Premium-
One Off Charge-

Tags

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India

telecommunication infrastructure

Telecommunications infrastructure

Private

Acquisition

Single Bidder

broadband communications

Merger

Friendly

Majority

Private Equity

Completed

Disposal

Domestic

Synopsis

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Bharti Airtel, an Indian global telecommunications services company, completed the acquisition of Vodafone's Indus Towers, an independently managed company offering passive infrastructure services to all telecom operators, for $10.6bn. Taken together, Bharti Infratel and Indus Towers had over 163k towers and 367k tenancies as at 31 March 2018. With over INR253bn ($3.8bn) in revenues (for the financial year ended 31 March 2018), the combined company will be well placed to invest on a national basis to satisfy the future demand from all telecoms operators in India as they continue to densify their networks to support sustained data traffic growth and roll out new network technologies.

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