Idea Cellular and Vodafone India in advanced talks with Brookfield to sell tower assets

Idea Cellular and Vodafone India are learnt to be in advanced talks with Canada-based asset management firm Brookfield Asset Management to sell their stand-alone telecom tower business in a combined deal. Idea Cellular has around 11,000 towers which it operates through its wholly owned subsidiary Idea Cellular Infrastructure Services. Meanwhile, Vodafone India owns 10,926 towers. The two are also part of a telecom tower JV, Indus Towers. During the merger announcement of Idea and Vodafone, both parties had said that they intended to sell their standalone tower assets and stakes in Indus Towers before the completion of the broader deal to reduce debt in the combined entity.


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