Bharti Infratel has received approval of the Competition Commission of India for its proposed merger with Indus Towers Limited. Earlier, in April 2018, Bharti Airtel, Idea Cellular and the Vodafone Group had announced an agreement for the merger of Indus Towers and Bharti Infratel to create the largest mobile tower operator in the world outside China, with over 163,000 towers across 22 service areas. The combined company will own 100 per cent of Indus Towers, which is currently jointly owned by Bharti Infratel (42 per cent), Vodafone (42 per cent), the Idea Group (11.15 per cent) and Providence (4.85 per cent). After the deal, Bharti Airtel and Vodafone will jointly control the combined entity. The transaction is expected to close before the end of 2018-19, subject to statutory approvals.
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